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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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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