About $295 million transferred to Azerbaijan from abroad in first quarter of 2024
In the first quarter of 2024, $294.4 million was transferred to Azerbaijan from abroad. This was reported by the Central Bank of Azerbaijan.
According to the data, this is up by 34.8% from the same period of 2023.
During the quarter, Russia accounted for $155.4 million received in the country. Remittances from that country have fallen by 50.3% over the past year, while our northern neighbor's share of remittances fell from 69.2% to 52.8%.
In return, remittances from Turkey to Azerbaijan rose by 22.3% to $39.9 million, while the country's share in remittances rose from 7.2% to 13.6%.
Other countries in the top 5 in terms of remittances include the US ($14.4 million, down 9%), Georgia ($9.3 million, up 50%) and the UK ($8.3 million, down 9.9%).
Finance
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The Central Bank of Azerbaijan (CBA) has approved the ‘Concept of Policy on Risk-Based Control’. This is reported on the website of the structure.
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If 2 years ago a share of local revenues in the budget of the Nakhchivan Autonomous Republic was 20-25%, by this year's end a share of local revenues will exceed 50%.
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The Central Bank of Azerbaijan (CBA) has given binding instructions to 'Azsığorta', 'Atəşgah Insurance', 'İpək Yolu Insurance', 'Xalq Həyat Insurance', 'Aqrar Insurance' and 'AzRe Təkrarsığorta'. This is reported on the CBA website.
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The NBCO 'Para will hold a regular general meeting of shareholders on 4 February at 11:00.
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