Azerbaijan's strategic foreign exchange reserves approach $73 billion
In January-August 2024, Azerbaijan's strategic foreign exchange reserves rose by 6.1% and reached $72.6 billion. This is reported by the Central Bank of Azerbaijan.
"In the first half of this year, the country's balance of payments had a current account surplus of $2.6 billion, or 7.5% of gross domestic product (GDP). The foreign trade balance, which is the main component of the current account, recorded a surplus of $5.5 billion in 8 months," the CBA said in a statement.
Finance
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On November 19, Finance Minister Samir Sharifov stated in the Milli Majlis (National Assembly) that fines issued to citizens in Azerbaijan sometimes do not reach the state budget. According to him, a new software system has been developed to address this issue and ensure proper oversight of fine payments.
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‘Baku Stock Exchange' (BSE) has started its work since 19 November to take part in the annual meeting of the World Federation of Exchanges (WFE), which will end on 22 November.
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There is additional potential in Azerbaijan associated with budget receipts from leasing of state property.
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In 2025, AZN 1,162.6 million is forecasted to be allocated from the state budget to 56 public legal entities in Azerbaijan.
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