Azerbaijan’s Central Bank reserves up 20% in May

The reserves of Azerbaijan’s Central Bank grew 20 percent in May year-on-year to $15.1 billion.

The holdings rose 1.5 percent from a month earlier, according to data published on the Central bank’s website.

Separately, the assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) grew by 6.7% year on year in January-March to $36.6 billion, according to results published at the end of May.

Azerbaijan is the third-largest oil producer in the former Soviet Union, after Russia and Kazakhstan.

Bakudaily.az