Baku/06.05.14/Turan : As of April 1, 2014 the total assets of banks in Azerbaijan amounted to 21.4186 billion manat ( 5.1 % compared to January 1) .
According to the Central Bank of Azerbaijan, in the structure of assets the largest share (69%) is granted loans - in the amount of 14,573,800,000 manats. Correspondent accounts accumulated 1,215,300,000 AZN - 5.7 % of total assets, cash flow - 1,002,100,000 AZN investments - 1.859 billion manat.
The share of loans and deposits issued by the financial sector accounts for 1.108 billion manat ( 22.5 % ) in other assets - 1.6604 billion manat - there was a decline of 0.9% . The main part of liabilities ( 84.04 %) relates to liabilities - 18.5 billion manat. Other liabilities ( 15.96 %) is actually bank capital in the amount of 3.4181 billion manat ( 0.9 %). - 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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