Baku, Azerbaijan, Nov. 22

By Anvar Mammadov - Trend:

The money supply will continue to grow in Azerbaijan till late 2017, Elman Rustamov, chairman of board of the Azerbaijani Central Bank (CBA), said Nov. 22 answering the questions of MPs during the discussions on the state budget for 2018 at a plenary session of the parliament.

"Since early 2017, the money supply in the country has grown by 11.5 percent,” he said. “So far, this figure has increased by 0.5 percent. I think that the money supply will continue to grow till late 2017.”

Rustamov added that since early 2017 the CBA has invested about 3 billion manats in the country's economy.

"In January-February, we put in circulation about 1 billion manats," he said. “When the first signs of stability in the economy were observed, CBA has invested 1.8 million manat since the end of February.”

As of September 2017, Broad Money Supply (M3) totaled 21.13 billion manats or by 5 percent more compared to September 2016 and by 2.8 percent more than in late August 2017.

The transaction money (M1) increased by 17.4 percent for the year and by 4.3 percent in September 2017 and amounted to 9.8 billion manats.

(1.7002 AZN = $1 on Nov. 22)

(Автор: Анвар Мамедов)