CBA expects current account surplus to continue to decline
The Central Bank of Azerbaijan (CBA) forecasts that in 2024 the surplus of the current operating balance of the country will be $7billion.
This was stated by CBA chairman Taleh Kazimov at a press conference. He added that in 2025 we expect a surplus of $6.5 billion.
As a reminder, in 2023, Azerbaijan's current account surplus was $8.3 billion to 11.5% of gross domestic product. This is down by 65% from 2022.
Finance
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The Accounting Chamber has revealed shortcomings in the Baku State University and the Azerbaijan State Academy of Physical Culture and Sport.
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In 2023, the salary costs of employees of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 9.8 million manats. This is stated in the financial statements of the Fund, which were audited at the end of the last year.
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Azerbaijan's justified state budget expenditures totalled AZN 4,948 million in the first half of 2024.
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As of the end of June 2024, credit unions in Azerbaijan had a balance sheet capital of AZN 9.1 million. This is stated in the credit union review published by the Central Bank of Azerbaijan.
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