Manat monetary base at the end of October 2013 amounted to 10,732.2 million manat , an increase in the reporting month by 116.3 million or 1.1 percent.
According to the Central Bank, since the beginning of the year the monetary base has expanded by 217.2 million or 2.1% and over the past 12 months it grew by 1,440.9 million or 15.5%.
The monetary base is the amount of cash and monetary funds 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 -
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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