By April 1, the bank deposits of the population accounted for 7 billion 888.9 million (minus 16.7% since the beginning of the year), the Central Bank of Azerbaijan reported for the first quarter.
Against the background of devaluation the population prefers to keep funds in foreign currency (80.9% of the total volume of deposits, or 6 billion 377.3 million AZN), while the remaining 1 billion 511.6 million of less wealthy citizens is kept in AZN. Nevertheless, the confidence in them grows - in the 1st quarter growth in this segment by 6.4% was recorded, but by means of storage in foreign currency there is a significant rollback - by 20.8% in comparison with the beginning of the year.
Individual residents (those who live in Azerbaijan last six months) have stored in local banks 6 billion 860.4 million manat, and non-residents have stored 1 billion 28.4 million manat, and reduction in both segments is by 16.8% and 16.6% respectively.
The total volume of bank deposits by April 1 amounted to 23 billion 121.6 million manat (minus 1.3% to 1 January). --17D-
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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