As of May 1, the money supply in Azerbaijan, including M3 (banknotes + deposits + time deposits of more than 100 million), cash, time deposits, demand deposits and deposits equal to 16 billion . 921.3 million manat.
According to the Central Bank, it is 0.87% higher than January 1, 2013. In April alone, the money supply increased by 0.34%.
In the money supply, the volume of cash in circulation (M0) amounted to 8 billion 983.9 million manat (minus 2.95% at the beginning of the year). Money supply M1 (cash, demand deposits and deposits) amounted to 11 billion 130.8 million manat (0.2%). M2 money supply (cash, demand deposits, time deposits and deposits in national currency) amounted to AZN 14 billion 21.9 million (1.56%).
Deposits in foreign currencies amounted to 2 billion 899.5 million manat (+2.34%). - 17D-
Economics
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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.
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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.
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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.
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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.
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