Credit organizations of Azerbaijan met 2,826,000 money orders totaling $ 9,900 mln in July 2012. The amount of payments decreased 950,000 and their total turnover decreased compared to the previous month at 267 million manat.
Compared with the corresponding period last year, the number of payments in January-July increased by 5,524,000 58% to 15,035,000, and their volume increased by 11,557 million or 21.5% to 65,281 mln.
In the structure of payment transactions in January-July, the share of large and urgent payments was 1.7% (263 thousand) of the total number and 91.4% (59,685 mln) of the total value. The average size of this category of payments decreased as compared to July 2011 by 18.7% to 192,500 manat, and small and medium size retail payments - by 24.1% to 375.5 manat.
As of August 1, 2012 payment system users were 54 organizations, 50 of which could make large and urgent payments. - 15B -
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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