Azerbaijan's strategic currency reserves decreased 4.3% or $ 2.3 billion in the last quarter of 2014, but in the fiscal cycle they increased 2.4%, amounting to $ 51.4 billion by January 1, 2015.
According to the report of the Central Bank of AR (CBA) on monetary policy for 2014 published on the website, "the strategic currency reserves are sufficient to replace the three-year imports of goods and services, 8 times higher than the amount of external debt."
According to the CBA, the republic's foreign exchange reserves account for about 70% of GDP in Azerbaijan.
Strategic currency reserves are formed from CBA reserves, SOFAZ assets and treasury funds of the Ministry of Finance. --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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