Manat monetary base declined in April by one percent
Manat monetary base at the end of April 2013 amounted to 10094.2 million manat, a decrease in the reporting month by 100.9 million or 1 percent.
According to the Central Bank, the first year, the monetary base decreased by 420.8 million or 4.1%, and over the past 12 months increased by 1,948.3 million or 19.3%
The monetary base is the amount of cash and cash commercial banks deposited with the Central Bank as required reserves. With this money the Central Bank fulfills its obligations to the commercial banks and the government. - 15B -
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- Political Monitoring
- 6 May 2013 12:07
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- Economics
- 6 May 2013 12:34
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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