The population of Azerbaijan is holding 7,350,000,000 manat in local banks
The Central Bank of Azerbaijan has published a report for the 3rd quarter of the banking system.
According to the site, the total assets of local banks by October 1 were 23 505 800 000 manat (+ 3.12 billion or 15.3% against the beginning of the year).
Credit investments of banks in January-September were at a level of 17 129 500 000 manat (+ 14.3%), and equity - 3 898 800 000 manat (+ 13.8%).
Deposits in the banking system by October 1, were 7 351 900 000 manat (+ 14.9%). Most of the increase (5.1%) occurred in September. --17D-
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review