Capital outflow from Azerbaijan for 9 months totals nearly USD 4 billion
In January-September 2024 the capital outflow from Azerbaijan (negative balance of the country's financial account) totalled $3 billion 570.5 million.This was reported by the Central Bank of Azerbaijan.
According to the information, for nine months the net financial assets (foreign investments) of Azerbaijan rose by $1390.9 million, and the net financial liabilities (foreign investments) dropped by $ 2179.6 million.
Recall that for the same period of 2023 Azerbaijan recorded an inflow of capital from abroad in the amount of $ 398.7 million.
Finance
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From 15 January the State Oil Company (SOCAR) will issue ‘Green Bonds’.This is reported by SOCAR.
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On January 10, President Ilham Aliyev signed an order to dismiss Finance Minister Samir Sharifov. He had held this position since 2006.
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The Central Bank of Azerbaijan (CBA) has changed the ‘Procedure for purchase and sale of foreign currency between the Central Bank and banks’, which it approved on 15 November 2022.
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In 2024, the economic growth in Azerbaijan made up 4.6%; it is expected that in 2025-2026 this index will make up an average of 3%.This is stated in the UN report ‘World economic situation and prospects 2025’.
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