By January 1, a joint amount of cash in circulation amounted to 4 billion 775.9 million manat. According to the Central Bank of Azerbaijan, it means the decline in index of 2.1 times a year - at the same level in December, a decrease by 7.8%. In general, by the beginning of the year the total money supply, including cash, time deposits, demand deposits and deposits stood at 21 billion 318.6 million AZN. At the same time deposits in foreign currency for the year increased by 3.1 times, and in December - by 51.4% - up to 12 billion 705.5 million manat, amounting to 60% of the total money supply. According to experts, the prevalence of foreign currency deposits is connected with the two waves of devaluation - 21 February and 21 December, which led to the absolute loss of the manat to the US dollar. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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