Total assets of Azerbaijani banks increased in July this year to 507.2 million or 2.8% to 18,693.5 million manat. From the beginning, bank assets grew by 13.1 % and for the year to 3,875.3 million or 26%.
According to the Central Bank of Azerbaijan, credit investments made ??on August 1 13807 bn , an increase in the reporting month by 2.9 %. Over the past year, lending to the economy has grown by 33%.
Deposits in banks in July increased 97.1 million or 1.6 % to 6,019.3 million manat. This figure since the beginning of the year grew by 17.7 %, and for 12 months - 36.3%.
The total capital of the banking sector has increased in the reporting month by 125.9 million or 4.4% amounting to 3009.4 million manat. During the year the figure rose to 878.8 million or 41.2%. - 15B -
Economics
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Azerbaijan’s consumer price index (CPI) for the period of January to August increased by 1.3% compared to the same period in 2023, marking a period of moderate inflation in the country. According to the State Statistics Committee, the overall CPI for the eight-month period reached 101.3%, with various sectors showing mixed inflationary pressures.
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Azerbaijan has witnessed a significant rise in the average nominal monthly wages of salaried workers, with an 8.3% increase recorded from January to July of this year compared to the same period in 2023. According to data released by the State Statistics Committee, the average nominal monthly salary reached 1,002.4 manats, as the country experiences both economic growth and sectoral shifts.
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The Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, recently hosted a high-level delegation led by Elisabetta Falcetti, the Executive Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development (EBRD). The meeting, held in Baku, focused on key initiatives to bolster the sustainable development of Azerbaijan’s financial sector and expand access to financing for the country’s real economy. Among the most pressing topics was the EBRD's support for Azerbaijan’s ongoing green transition.
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Recently, the prices of certain food items have increased in Azerbaijan. This is also reflected in the data released today, September 11, by the State Statistics Committee (SSC). It was noted that in August, compared to July, there were price increases in rice, beef, lamb, sausage products, butter, olive oil, and onions.
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