On October 1, 18% reduced the money supply, including cash, time and demand deposits and etc. According to the Central Bank of Azerbaijan (CBA), in the first three quarters it amounted to 17 billion 684,020,000 manats.
The appeal is 5 billion 456.9 million manats (minus 46.25% YTD). According to the table of the CBA, a significant decline compared to January 1 applies to all monetary aggregates. The only position has undergone a twofold increase - bank deposits in foreign currency (8 billion 315 million manats as of 1 October), due to the dollarization of deposits amid falling oil prices and the February devaluation of the manat, which caused investors to distrust the national currency. --17D-
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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