Azerbaijan budget gains $119.4M manats from bank deposits

In April-December this year, a total of 119.4 million manats ($70.2 million) in additional revenue was transferred to Azerbaijan's state budget from deposits placed by the Ministry of Finance in commercial banks, Report informs, citing the ministry.

Of this amount, 98.6 million manats ($58 million) was generated from deposits placed in commercial banks, while 20.8 million manats ($12.2 million) came from interest earned on the balance of the US dollar correspondent account held at the Central Bank of Azerbaijan (CBA).

The ministry noted that starting from April 2025, active management of the single treasury account balance was launched to ensure more efficient management of state budget funds and to attract additional revenues to the budget. As part of this process, funds in the national currency were placed as deposits in local banks, and interest income was accrued on the balance of the US dollar correspondent account in line with an agreement signed with the CBA.