The money supply increased in July 2013 to 204.7 million or 1.4 % to 14,504.4 million manat. Over the past 12 months, the volume of manat funds in the economy increased by 2,533.4 million or 21.2%.
According to the Azerbaijani Central Bank, the amount of cash outside the banking system grew in July at 235.4 million or 2.6% to 9455.1 million manat. Non-cash decreased by AZN 60.6 million or 1.2% to 5019.3 million manat. The share of the latter in the structure of AZN treatment decreased to 34.6 %.
Broad money expanded in the reporting month by 422.7 mln manat or 2.5 %, and for the year - by 18.6 %, to 17,435.8 million manat.
The volume of foreign exchange supply in the banking system increased in July to 217.8 million or 8% to the equivalent of 2,931.3 million manats. During the year foreign exchange supply increased 7.3 %. The share of manat resources in the total money supply amounted to 83.1 %, up 1.7 % compared to August 1, 2012.
The total monetary base rose in July by 1.9 %, while for the year - by 16.4 % to 10,528.8 million manat. Manat monetary base increased during the reporting month by 162.4 million or 1.6 % to 10,427.6 million manat. - 15B-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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