Money supply rose in July by 217.3 million or 1.8%, to 11,971 mln. Over the past 12 months, the volume of funds in manat in the economy grew by 2,619.6 million or 28%.
According to the Central Bank of Azerbaijan, the amount of cash outside the banking system rose in July by 260.5 million or 3.4% to 8,012.3 million manat, and non-cash decreased by AZN 43.2 million or 1.1% to 4,001.9 million manat. The share of the latter in the structure of the manat circulation decreased to 33.1%.
Broad money increased in the reported month by 175.5 million or 1.2%, and for the year it grew by 23.3% to 14,703 million manat.
The volume of foreign exchange supply in the banking system declined in July by 41.8 million or 1.5% to the equivalent of 2,732 million manat. Foreign exchange for the year increased 6.3%. The share of AZN resources in the total money supply was 81.5%, up 3% compared to August 1 last year. Thus, the share of currency in cash for the first time in recent years was 18.5%.
The total amount of the monetary base grew in July by 3.5%, and for the year it grew by 30.2% to 9,039.6 million manat. The manat money base increased over the month by 285.8 million or 3.3% to 8,940.2 million manat. - 15V -
Economics
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The weaknesses of strategic planning in the Azerbaijani land transport sector were revealed during a briefing on improving legislation, which was attended by representatives of the Azerbaijan Land Transport Agency (AYNA) and the Ministry of Digital Development and Transport.
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The Cabinet of Ministers of the Republic of Azerbaijan has made changes to the existing provisions regarding the approval of construction documentation and the service fees for construction. The amendments are guided by Article 119 of the Constitution of Azerbaijan and are aimed at simplifying processes related to construction permits and operations.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
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