As of November 1, the money supply in Azerbaijan compared to last month increased by 9.38% (638.6 million manat) and amounted to 7 billion 448.9 million manat.
From the beginning of the year, the money supply increased by 7.93% (547.1 million AZN).
The expert Samir Aliyev in an interview with Turan pointed out that increasing the money supply could be greater.
He noted that the increase in the money supply is important for the development of non-oil sector. But at the same time, this process also accelerates inflationary pressures.
"In order to prevent inflation, the central bank keeps the money supply growth through various instruments such as deposit auctions and the release notes," he said. ----71D
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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