Money supply rose in September by 184.1 million or 1.5% to 12,402.4 million manat. Over the past 12 months, the volume of funds in manat economy grew at 2,772.1 million or 28.8%.
According to the report on the results of the CBA monetary policy for 9 months, the amount of cash outside the banking system increased in September at 170.8 million or 2.2% to 8,315.4 million manat.
Broad money increased in the reported month by 340.3 million or 2.3% and for the year - by 21.3% to 15,343.3 mln.
The monetary base increased in January - September of this year by 12.4%, and as compared to the same period last year - by 30%. - 15V -
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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