Total receipts of cash to banks in January-September 2012 amounted to 23.209 billion manat, which is 34.8% more compared to the same period last year. The largest share belonged to sale of foreign currency - 32.8%. The share of commodity sales was 17%, income on loans - 7.8%, revenues from ATMs - 4.7%, revenues from services and work - 4.1%, revenues for notary account when buying property - 3.8% income on deposit accounts - 3.7%, etc.
According to the Central Bank of Azerbaijan, the shortage of cash turnover amounted to 1,153 million manat (AZN 191 million in September.) Thus, the cost of cash for the period amounted to 24.362 billion manat. This is 33.7% more than in 2011. Of the total expenditure amounted to 28.7% of the cost of purchasing goods and services, 26.2% - the cost of ATM cash collateral, 10.7% - the cost of buying foreign currency, 5.9% - mortgage payments, 4.6 % - a notary costs account for property transactions, 3.4% - payments from deposit accounts, etc.
Cash balance in the first nine months of the year amounted to 332 million manat, which corresponds to 1.4% of cash receipts during that time.
The average size of the daily cash receipts equaled 84,704 AZN and the expenses were 88,913 manats. - 15B -
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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