At the regular foreign exchange auction of the Central Bank of Azerbaijan, which took place on July 26, the State Oil Fund of Azerbaijan (SOFAZ) sold $ 50 million.
Thus it satisfied the demand of 27 banks that participated in the auction.
The previous auction was held on July 21, which also sold $ 50 million to 26 banks.
The Fund's assets are $ 35.1 billion. This year it should provide a receipt of $ 7.615 billion to the state budget. -0-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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