Dollarization of bank deposits in Azerbaijan is obvious - the volume of manat accounts from January to August decreased by 2.07 times to 2 billion 138.7 million manats. By the way, while on January 1 they accounted for 60% of the total mass, today its share is at 28.1%.
In this, the population's deposits in foreign currency rose almost twofold by 1 August - by 97.6% to $ 5 billion 466.4 million manats, or 71.9% of all bank savings.
The total volume of the bank "nest egg" is $ 7 billion 605.1 million manats (5.8% YTD). Recall, the official figures of CBA do not take into account the February devaluation of the national currency, which resulted in manats dipped by 34% - that is, deposits really became 30% less.
By August 1, the total volume of deposits in local banks was 18 billion 213.6 million manats (+ 17.9% to 1 January). --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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