Central Bank of Azerbaijan in the January-March issue of money realized it in the amount of 356.7 million (2.06 times more than by 1 April of last year).
According to the CBA, the total cash receipts to the banks during this period amounted to 9,246,597,000 manat (8.58 %). The largest share of the operations of the banks with individuals and legal entities was 5,691,754,000 manat, revenues from legal entities amounted to 2,081,696,000 manat (+31.96 %), individuals - 767.351 million manat (growth of 19.11 %), and a small share of the proceeds comes under < other items >.
Total cash flow through the banks amounted to 8,689,354,000 manats (+5.62 %). In this segment, the lead bank charges on transactions with legal entities and individuals - 3,733,250,000 million (+ 8.98 %) followed by operations through ATMs - 2,643,220,000 manats (+18.25 %).
By a tenth (minus 10.36 %) - to 2,068,066,000 manat reduced payments by legal entities and natural persons - entrepreneurs. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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