Azerbaijan’s strategic currency reserves grow to $49B
Baku, Azerbaijan, July 26
By Kheyraddin Nasirzade, Kamala Mammadli – Trend:
Azerbaijan’s strategic currency reserves grew to $49 billion by the end of June, Elman Rustamov, Chairman of the Central Bank of Azerbaijan (CBA), said at a press conference on July 26, Trend reports.
Compared to the beginning of the year, Azerbaijan’s gold and foreign exchange reserves increased by 9.4 percent, Rustamov noted.
Most of the reserves accounts for assets of the State Oil Fund of Azerbaijan, he said.
“The strategic currency reserves of Azerbaijan increased by 9.4 percent, which suggests that the balance of payments is formed with a surplus,” he noted.
The situation in foreign markets remains favorable, he said. Since the beginning of the year, there has been surplus in the foreign trade balance of Azerbaijan, and exports, including non-oil ones, are growing, he added.
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