Total assets of Azerbaijani banks increased in May of this year at 212.2 million or 1.1% to 19,192 million manat. From the beginning, bank assets grew by 8.8% and for the year to 4,371.1 million or 29.5%.
According to the Central Bank of Azerbaijan, credit investments as of June 1 totaled 13,052.7 million manat, a decrease in the reporting month by 0.9%. Over the past year, lending to the economy grew by 26.3%.
Deposits in banks in May increased by 123.2 million or 2.1% to 5891.5 million manat. This figure since the beginning of the year grew by 15.2%, and for 12 months - 36%.
The total capital of the banking sector has increased in the reporting month by 46.7 million or 1.7% amounting to 2770.8 million manat. During the year the figure rose to 700.6 million or 33.8%. - 15B -
Economics
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Azerbaijan's potato sector, a cornerstone of the nation's food supply and its second most significant agricultural product, is in sharp decline. Production dropped by 7.6% year-on-year from January to October 2024, reflecting a long-term downward trend, according to the State Statistics Committee.
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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