In the foreign exchange auction of the Central Bank of Azerbaijan on August 4, the State Oil Fund of Azerbaijan (SOFAZ) sold 28 banks $ 49.4 million. Total $ 50 million was proposed.
At the last auction on August 2, SOFAZ sold 29 banks $ 49.1 million of the proposed $ 50 million.
The biggest buzz at the auction was on 28 July, when it sold $ 50 million, while 28 banks required $ 450 million.
The proceeds in AZN are sent to the budget. In 2016 SOFAZ is obliged to transfer AZN 6 billion to the state budget. -0-
Economics
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Turkmenistan, Azerbaijan, Georgia, and Romania are set to sign a quadrilateral intergovernmental agreement to establish the international transport route "Caspian Sea – Black Sea" in Bucharest in 2024, the Ministry of Foreign Affairs of Turkmenistan reported on Tuesday.
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Proposals for increasing the minimum wage in Azerbaijan will be prepared. This is stated in the "Labor Market" working group's 2024 Action Plan of the Business Environment and International Ratings Commission.
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Environmental protection expenditures in Azerbaijan surged 2.9 times in 2023 compared to the previous year, reaching 677.4 million manats, equivalent to 0.6 percent of the country's gross domestic product, the State Statistics Committee reported.
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According to the State Border Service of Azerbaijan, 179,000 foreigners and stateless persons arrived in Azerbaijan in the first half of 2024, marking a 34.0% increase compared to the same period last year. The visitors hailed from 1231.1 countries.
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