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Azerbaijan sees sharp decline in M2 money supply

Azerbaijan sees sharp decline in M2 money supply

17 April 2009 13:43 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of March 1, M2 money supply reached AZN 5 264.8 million, up 24% from a year ago, said the Central Bank of Azerbaijan.
However, M2 money supply declined by 13.4% or AZN 816.2 million in January-February this year.
M2 money supply includes total cash in circulation outside banks (M0), the amount in demand accounts, current accounts, term deposits in national currency.

Cash money supply which means cash outside the central bank (M0) made AZN 3 666.9 million, up 43% from a year ago but down 11.6% from early this yar.
Cash supply accounted for 69.7% of the money stock, compared to 68.2% in early this year and 60.4% in a tear ago.
By international practice, this is higher than normal but this is normal for Azerbaijan in terms of the countryâ€™s macro-economy.

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