Azerbaijan bank deposits hit record high as manat retains its value

Azerbaijan bank deposits: Azeri residents deposited a record AZN 7.2bn  ($US 9.2bn) into the country’s banks last year – a 12.4% increase on 2013 – the Deputy Chairman of Azerbaijans  State Statistics Committee Rauf Salimov said this week.While the industrial sector had decreased by 0.7% last year, the non-oil sector had grown by 6.9%, he added. He also pointed out that the manat (Azerbaijan’s currency) had been the only one in the CIS to hold its value last year and that, according to the IMF, the country’s average growth rate of 11.5% over the past 11 years was the highest in the world. Azernews