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Money transfers to Azerbaijan doubled last year

21 February 2018 10:58 (UTC +04:00)

Situation with economically partner countries in 2017 has also affected dynamics of money entered the country, Central Bank of Azerbaijan said in its monetary policy review for 2017.

According to the initial figures, the money entered the country in 2017 amounted to $1.2 billion, up 2.13-fold from AZN 564 million in 2016.

Investments made by foreign enterprises and organizations in fixed capital stood at AZN 8.6 billion, which was equal to 55.4% of total investments. Most of the investments was made by UK, Turkey, Iran, US, Japan, Malaysia, Switzerland and Czech Republic.

Positive processes in the foreign sector manifested itself in the dynamics of foreign currency reserves. Strategic currency reserves increased by 11%, are sufficient for covering import of goods and services within 30 months and were 2.9-fold higher than external public debt.