Volume of deposits with credit institutions in Azerbaijan decreased in July 2012 by 35.2 million or 0.4% to 9,668.7 million manat. Over the past 12 months, in four of which there was a decline, the figure rose by 1,322.9 million or 15.9%.
In the reported period grew only monetary savings. The volume of foreign currency amounted to 5,241 mln. And its share in total deposit portfolio increased to 54.2%. A year earlier, the share of foreign exchange reserves stood at 57.3%.
By the beginning of August individuals kept in bank deposits and investments in the amount of 4,415.2 million manat, which corresponds to 45.7% of the total (45.1% a month earlier.) Short-term investments of natural persons in the reported month grew by 19.8 million or 0.7% to 2,788.7 million manat. Long-term savings by individuals increased 22.8 million or 1.4% to 1,626.5 million manat.
In July only call deposits increased. Their total reached 3,489.2 mln. Time deposits decreased to 6,179.6 million or 63.9% of the total.
According to the Central Bank of Azerbaijan, the average rate of manat deposits increased in July by 0.03% to 10.36 and the savings in foreign currency decreased by 0.02% to 10.77%. In the reported month, manat deposits were accepted from individuals at an average of 10.67% per annum, and currency deposits - at 10.98%. For legal entities, the figures were 7.01% and 4.44% respectively. - 15B -
Economics
-
During the virtual conference "COP29 Action Program: Energy Initiatives and Commitments" on November 4, UNIDO (United Nations Industrial Development Organization) expert Smeeta Fokeer highlighted the importance of adopting international commitments on hydrogen and tripling renewable energy capacities by 2030 at COP29 in Baku.
-
On November 4, a virtual conference titled "COP29 Action Program: Energy Initiatives and Commitments" was held at the initiative of Azerbaijan's Ministry of Energy, the International Renewable Energy Agency (IRENA), the International Energy Agency (IEA), and specialized UN agencies—UNIDO (United Nations Industrial Development Organization) and UNECE (United Nations Economic Commission for Europe)—ahead of COP29. During the conference, Azerbaijan's Deputy Minister of Energy Orkhan Zeynalov announced three energy initiatives-declarations proposed by Azerbaijan as the COP29 chair for signing next week in Baku at the UN Climate Summit.
-
Azerbaijan's Cabinet of Ministers has issued a decision to amend various resolutions following the May 1, 2023 Presidential Decree No. 2130, which approved the charter for the Medical Territorial Units Management Association (TƏBIB). The amendments aim to implement structural changes across multiple government regulations to reflect the shift of responsibilities to TƏBIB from other healthcare entities.
-
Baku's trade and service sectors showed robust growth during the January to September period this year, underscoring the capital's resilience amid broader economic shifts. Trade turnover surged by 4.9% year-on-year, reaching a substantial 24.95 billion manat, according to the latest official data. This expansion reflects both a modest boost in consumer spending and the city's ongoing role as a commercial hub.
Leave a review