The manat monetary base at the end of September this year amounted to 9,299.8 million manat, increasing in the reported month 223.5 million or 2.5%.
According to the Central Bank, this year the monetary base increased by 1,024.4 million or 12.4 percent.
Monetary base is the amount of cash that commercial banks deposit with the Central Bank as required reserves. With this money the Central Bank fulfills its obligations to commercial banks and government agencies. - 15B -
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has installed the EcoPilot system by UAE-based QTAGG to reduce fuel consumption and greenhouse gas emissions, QTAGG's Commercial Director Per Österberg said on Wednesday at the event "Voyage to the Future: Decarbonization in the Maritime Sector for a Sustainable Tomorrow."
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Azerbaijan Railways CJSC (ADY) has signed a climate commitment document with the International Union of Railways (UIC) during the event "Towards a Sustainable Future with Transport Corridors: Railways in Climate Policy," held as part of COP29.
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In Azerbaijan, it is expected that the state will regulate the price of AI-95 gasoline. This was mentioned by Rauf Qurbanov, head of the Economics Department at the Ministry of Energy, during a meeting of the Parliamentary Committee on Natural Resources, Energy, and Ecology on November 19, where proposed amendments to the "Law on Efficient Use of Energy Resources and Energy Efficiency" were discussed. According to him, AI-95 could soon be included in the list of goods and services whose prices are regulated by the government.
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Natural gas currently meets 23% of global primary energy needs and plays a critical role in driving economic growth, improving living standards, and achieving environmental goals, according to Mohammed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF). He spoke during the second joint meeting of the GECF and OPEC at COP-29.
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