Term investments for the year the population grew by nearly a quarter
Volume of deposits with credit institutions of Azerbaijan rose in December 2012 by AZN 289.3 million or 2.8% to AZN 10,699.2 million ($ 13.6 billion). Compared to the beginning of last year the figure rose by 1,252.2 million or 13.3%. In 2011, the bank deposit portfolio grew by 23.9%.
In the reported period grew only manat investments. The volume of foreign-currency assets amounted to 5636.7 million manat. And its share in total deposit portfolio decreased to 52.6%. A year earlier, the share of foreign exchange reserves stood at 54.7%.
Total amount of time deposits increased to 7,073 million or 66.1% of the total. Term deposits increased in the last 12 months by 24.2%, including in December - by 8.7% to 4070.6 million manat. The share of timed deposits in the deposit base of banks was 38% (+ 3.3% per year).
By the beginning of this year, individuals kept in bank deposits and investments in the amount of 5113.4 million manats, which corresponds to 47.8% of the total (45.8% a month earlier.) Short-term investments of natural persons in the reported month rose by 3.5% to 3132.6 million manat.
According to the Central Bank of Azerbaijan, the average rate of manat deposits decreased in December by 0.05 percentage points to 9.99%, and the savings in foreign currency - by 0.11 percentage points to 10.18%. The first ones for the year decreased by 0.27 percentage points and the second ones - by 0.93 percentage points. In the reported month, manat deposits were accepted from individuals at an average of 10.25% and currency deposits - at 10.75%. For legal entities, the figures were 6.95% and 3.69% respectively. - 15B -
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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