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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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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