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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As of the end of June 2024, the Central Bank of Azerbaijan had foreign exchange reserves in the amount of $11,737.6 million. This is reported on the structure's website.
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A delegation headed by Chairman of the Central Bank of Azerbaijan Taleh Kazimov made a business visit to Tajikistan on July 1.
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On July 1, President Ilham Aliyev approved amendments to the annual budget of the State Social Security Fund (SSS) and the Unemployment Insurance Fund (UIF) under the Ministry of Labor and Social Protection of the Population for 2024.
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