Azerbaijan, Baku /corr. Trend I.Khalilova / According to NBA, as of 1 October the expanded national money (М2) increased by AZN 1.396.1mln compared to the beginning of the year and made up AZN 3.533.8.
In October the cash money mass (М1) rose 2.4% compared to September and 89.4% compared to October 2006.
The structure of М2 experienced some quality changes. A dramatic increase in money aggregates occurred mainly owing to cashless circulation. Deposit accounts and deposits increased by 3.3 times, long-term deposits increased by 2.5 times. М0 increased by 95.4% resulting in decrease in specific weight of money from 69.1% to 60.6%.
NBA came to the conclusion that due to the intensification of development of financial innovations in Azerbaijan the indexes characterizing the ability of the bank sector in money earnings are improving. Money multiplier in AZN compared to the same period of 2006 increased by 8.5% making up 1.4.
NBA confirms the increase of monetization in September. As a result, the specific weight of expanded money in non-oil GDP increased by 12.9% in October compared to October 2006 comprising 33.8 %.