BAKU, Azerbaijan, July 20. The decline observed in financial flows in the middle of 2Q2022 was again replaced by growth towards the end of the quarter, Trend reports via the analysis of intersectoral financial flows of the Central Bank of Azerbaijan (CBA).
"Incoming payments increased by 19.8 percent or three billion manat ($1.7 billion) in the second quarter of 2022 compared to the same period last year, to 18.3 billion manat ($10.7)," CBA said.
According to CBA, the largest share in the structure of incoming payments was occupied by public administration, defense and social security spheres - 22 percent, also trade and repair of vehicles - 15.5 percent.
Revenues in the provision of administrative and support services doubled in the second quarter of 2022 compared to the same period last year - up to 110.4 million manat or $64.9 million (the growth was observed mainly in car rental and leasing groups), education - by 82 percent, or 114.7 million manat ($67.4 million) - up to 254.8 million manat ($149.8 million), construction - by 64 percent, up to 2.7 billion manat or $1.5 billion (social projects and investments related to large-scale construction works in the liberated territories are the main factor contributing to the increase in financial flows ).