PremiumAzerbaijan spotlights import rise due to higher currency demand and fiscal support in 2024

Azerbaijan’s currency auction sales shot up to $7.2 billion last year, a whopping 1.8 times more than in 2023, according to the Chamber of Accounts. With higher import volumes, lower foreign currency inflows, and debt payments driving demand, it’s clear that the Central Bank’s interventions also played a significant role in shaping the money supply.