[ad_1] As of August 1, 2021, the deposits in foreign currencies in Azerbaijan-based banks accounted for AZN 9,666.4 million, showing a 9.7% increase in comparison to a month ago. At the same time, this figure is 8.8% up from the beginning of the year, 10% down from a year earlier. [ad_2] https://report.az/en/finance/azerbaijan-based-banks-see-10-growth-in-foreign-currency-deposits/
Tag: growth
Azerbaijan sees over 16% growth in solar power production
[ad_1] The production in the sector of electric power, gas and steam production, distribution, and supply amounted to AZN 1,404.6 million in January-June 2021, up 2.6% from a year earlier, Report informs, citing the State Statistical Committee. The production in the water supply, waste treatment, and processing sector has risen by 10.7%, settling at AZN… Continue reading Azerbaijan sees over 16% growth in solar power production
WHO records growth in global cases numbers for fourth week in row
[ad_1] The coronavirus case numbers in the world keep growing for the fourth consecutive week. Last week saw an increase in the death toll, which previously declined for ten weeks in a row, Director General of the World Health Organization (WHO) Tedros Adhanom Ghebreyesus said at a Geneva briefing today. Report informs, citing TASS, that… Continue reading WHO records growth in global cases numbers for fourth week in row
European Commission improves forecast for GDP growth in euro area for 2021
[ad_1] The European Commission (EC), in its summer economic forecast, has improved the estimate for the growth of GDP in the euro area for the current year to 4.8 percent from 4.3 percent, which were expected in the previous spring forecast, Report informs referring to Prime agency. “Currently, GDP growth is projected at 4.8 percent… Continue reading European Commission improves forecast for GDP growth in euro area for 2021
Oil prices slow growth after reaching highest value since November 2014
[ad_1] Global oil prices on July 6 afternoon slowed down their growth slightly after the cost of US WTI oil peaked since November 2014, according to trading data, Report informs referring to Prime agency. As of 14:13 (GMT+4), the price of September futures for the North Sea Brent oil blend grew by 0.19 percent to… Continue reading Oil prices slow growth after reaching highest value since November 2014
Azeraluminium gets 90% growth in export revenues
[ad_1] In January-May 2021, Azeraluminium LLC, a subsidiary of Azerbaijan Industrial Corporation OJSC, exported products worth $ 47.9 million, which is $22.7 million or 90.1% more than the same period in 2020, Report mentions, citing the “Export Review” of the Center for Economic Reforms Analysis and Communication. Azeraluminium LLC is a leading company in the… Continue reading Azeraluminium gets 90% growth in export revenues
EBRD expects 4.2% growth in member countries’ economies in 2021
[ad_1] The European Bank for Reconstruction and Development (EBRD) predicts that the economies of its member countries will grow 4.2 percent in 2021 amid economic recovery after the COVID pandemic, Report informs referring to the EBRD’s June Regional Economic Prospects report. The document examines the situation in 38 emerging market economies. The current forecast has… Continue reading EBRD expects 4.2% growth in member countries’ economies in 2021
Azerbaijani banks see 8% growth in assets
[ad_1] As of June 1, 2021, the assets of Azerbaijan-based banks assets amounted to AZN 33,810.7 million, up 8.2% from a year earlier, Report informs citing the Central Bank of Azerbaijan (CBA). Of this, the loans issued to customers amounted to AZN 13,501 million. The loan portfolio grew 3.55%, the share of loans in assets… Continue reading Azerbaijani banks see 8% growth in assets
S&P: Azerbaijan to see 4.7% growth on average in GDP in next two years
[ad_1] Azerbaijan’s economy, which lagged last year due to a coronavirus pandemic, will grow 2.4% this year, Report informs, citing S&P Global Ratings. In 2022-2023, the GDP will grow by 4.7% on average. Azerbaijani government forecasts 3.4% growth in GDP in 2021, 4.8% in 2022. Reduction in oil output due to the COVID restrictions and… Continue reading S&P: Azerbaijan to see 4.7% growth on average in GDP in next two years
IMF: Structural reforms needed in Azerbaijan for long-term growth potential
[ad_1] Structural reforms are needed in Azerbaijan to boost productivity and long-term growth potential, Report informs referring to a report by the International Monetary Fund (IMF) following consultations with the Azerbaijani government under Article IV of the IMF’s Articles of Agreement. Comprehensive structural reforms in line with the recently approved national priorities for socio-economic developments… Continue reading IMF: Structural reforms needed in Azerbaijan for long-term growth potential