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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Azerbaijani state power company Azerenerji, SOCAR Trading, and Italy's Ansaldo Energia have signed a trilateral agreement on carbon credits, Azerenerji announced on Friday.
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The SOCAR-UNIPER joint venture inaugurated a 65 MW steam generator unit at the "Ethylene-Polyethylene" plant on Friday as part of activities held during COP 29. The project, aimed at boosting energy efficiency, is a significant milestone for the joint efforts of SOCAR and UNIPER in Azerbaijan’s chemical industry.
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French energy giant TotalEnergies is considering participation in solar and wind power projects in the Nakhchivan Autonomous Republic of Azerbaijan, a move discussed during talks in Baku on November 15 between TotalEnergies CEO Patrick Pouyanné and Azerbaijani government officials.
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Azerbaijan's Ministry of Energy, China Energy Overseas Investment Co. Ltd., and SOCAR Green LLC have signed an agreement to implement a 160 MW solar power project in the Fizuli district, Economy Minister Mikayil Jabbarov announced on social media on Wednesday.
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