Finance

Finance

Azerbaijan sees 19% rise in money supply

12 November 2013 13:48 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of October 1, 2013, M3 money supply made AZN 17,613.6 mln, up AZN 2,270.3 mln or 14.8% from previous year.

Central Bank of Azerbaijan says money supply rose AZN 838.3 mln or 5.0% in January-September.

Note that M3 Board includes cash out of banks, demand and term deposits and savings.

M2 Board of money supply rose AZN 2,407.2 mln or 19.4% to AZN 14,809.6 mln in comparison to a year earlier.

(mln. manat)

	01.10.2012	01.01.2013	01.10.2013
M0 (Cash money)	8,315.4	9,256.6	9,560.0
M1 (cash, demand deposits and savings)	10,053.6	11,107.9	11,736.8
M2 (cash, demand and manat term deposits and savings)	12,402.4	13,806.4	14,809.6
M3 (cash, demand and term deposits and savings)	15,343.3	16,775.3	17,613.6

Note that compared to 2010-2011, growth rate of money supply gradually decreases. So, the growth was 34.5% in 2010, 32.5% in 2011, 25.6% in 2012. As it seems, this index exceeds 19% now. At the same time, cash money supply soared AZN 1,244.6 mln and 51.7% of growth of the manat money supply falls to share of cash money. This index regularly declines recent years, that’s role of increase of non-cash mony in the growth of money supply gradually increases.

This process influences decline of cashing in the country. As of September 1, 2013, cashing level made 64.6%, down 2.5 percentage points in annual comparison.