International assets of Azerbaijan, without the consideration of the funds of the Oil Fund of Azerbaijan, fell in June by $ 37.3 million, or 0.3%, to $ 13,125.69 million ( in May reserves decreased by 0.2% ). Compared with the beginning of the year this figure increased by $ 882.28 million or 7.2%.
According to the Central Bank of Azerbaijan, in the structure of international assets in the reporting month decreased funds in various foreign currencies (primarily U.S. dollars and euros) to $ 12,892.13 million. The cost of the basket of Special Drawing Rights (SDR), in which the country's share in the authorized capital of the International Monetary Fund was paid, decreased by 3.3% to $ 233.37 million.
Over the year the country's international assets increased by $ 1,624.86 million or 14.1%. --15В--
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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