Bank deposits of the population in Azerbaijan, May 1 totaled 5 billion 768.3 million manat, which is 12.8% higher than at the beginning of this year.
According to the Central Bank (CB), in January-April 2013, there was an increase at a higher rate of deposits in national currency. In particular, their capacity for the period increased by 17.3% - up to 3 billion 478.1 million or 60.3% of total deposits.
The volume of deposits in foreign currency in January-April 2013 increased by 6.5% - up to 2 billion 290.2 million or 39.7% of total deposits.
According to the CBA, on May 1, 2013 the amount of bank deposits of residents is 5 billion 80.6 million manat, non-residents - 687.6 million manat. In this case, in January-April this year, the deposits of residents grew by 12.3%, non-residents - by 16.9%.
On May 1, 2013, on the whole, the volume of deposits in banks in Azerbaijan amounts to 11 billion 405.3 million manat, which is 6.6% higher than at the beginning of this year. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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