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All bank deposits' specific weight increased almost six-fold in national currency

Business Materials 1 July 2011 13:41
For 20 years, real incomes have increased by 2.4 times in Azerbaijan, State Statistics Committee Chairman Arif Veliyev said in his speech at a scientific symposium on Thursday. "Compared to 1995, real incomes have increased by 8.2 times in Azerbaijan, and amounted to 2,866 manat per capita by late 2010," Veliyev said.

Azerbaijan, Baku, July 1 / Trend, A. Akhundov /

For 20 years, real incomes have increased by 2.4 times in Azerbaijan, State Statistics Committee Chairman Arif Veliyev said in his speech at a scientific symposium on Thursday.
"Compared to 1995, real incomes have increased by 8.2 times in Azerbaijan, and amounted to 2,866 manat per capita by late 2010," Veliyev said.
He said in 1995-2010, the average salary in Azerbaijan increased by 26.5 times and reached 331.5 manat.
"In addition, the volume of loans issued by the Azerbaijani banks has increased by 20 times by the end of 2010, compared to 2000. During this period, Azerbaijani manat has consolidated and its reliability has increased," Veliyev said.
As a result, he said, specific bank deposit weight in Azerbaijan increased from 8 percent in 1993 to 46.5 percent in 2010 in national currency.
"As of Jan. 1, 2011, the population's deposits in banks exceeded three billion manat," Veliyev underlined.

The official exchange rate is 0.7867 manat to $1 on July 1.

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