The monetary base in Azerbaijan decreased to 51.3 million AZN and reached 7 billion 38.1 million AZN in July, according to the Central Bank.
This is the first reduction of the monetary base from the beginning of the year. During the first half of the year, the monetary base increased by 11.4% and amounted to 7 billion 689.4 million AZN.
By results of 2015, the monetary base decreased by 40.2%.
The monetary base is the sum of cash and funds of commercial banks deposited with the Central Bank as required reserves. With this money the Central Bank meets its obligations to commercial banks and government agencies. The money deposited in the Central Bank is directly controlled by it. -0--
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review