Azerbaijan’s Central Bank reserves grew 19 percent in April year-on-year, according to data on the bank’s website.

The reserves expanded to $14.9 billion as of April 30 from $12.5 billion a year earlier, the data show.

The Central Bank last month cut the refinancing rate to 4.25 percent from 4.75 percent to stimulate growth in areas outside oil and natural gas.

Bakudaily.az