Official foreign exchange reserves of the Central Bank of Azerbaijan (CBA) amounted to $ 11,122.7 million on August 1, 2012.
According to CBA, in July, foreign exchange reserves increased $ 76.4 million, or 0.7%, and since the beginning of the year they increased $ 641.2 million or 6.1%.
Over the past 12 months the reserves of the Central Bank increased $ 4,048.9 million or 57.2 percent.
The current level is the historical maximum for foreign currency reserves. - 15B -
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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