BAKU, Azerbaijan, March 18. Azerbaijan's strategic currency assets in the payment balance took a hit, dropping by $438.1 million in 2024.
Data obtained by Trend from the Central Bank of Azerbaijan shows that
throughout the specified timeframe, the current account balance
exhibited a surplus amounting to $4.7 billion, whereas the capital
and financial account balance, primarily influenced by a
contraction in financial obligations, reflected a deficit of $5
billion.
The nation’s pivotal monetary reserves contracted by $438.1
million, attributable to an escalation in sovereign expenditures
denominated in foreign currencies, propelled by the implementation
of multiple strategically critical undertakings and initiatives,
alongside the servicing of considerable fiscal obligations.
