Baku: Azerbaijan’s balance of payments reserve assets experienced a decrease of USD 438.1 million in 2024, as reported by APA-Economics, citing the Central Bank of Azerbaijan. This marks a significant shift from the previous year, where reserve assets had seen an increase of USD 5 billion 356.4 million.

According to Azeri-Press News Agency, the balance of payments in 2024 was shaped by various tendencies in the external environment. The country witnessed a surplus of USD 4.7 billion in the current account balance. However, this was offset by a deficit of USD 5 billion in the capital and financial account balance, primarily due to a reduction in financial liabilities.

During this period, the implementation of strategically important projects, along with an increase in government expenditures in foreign currency for large financial obligations, contributed to the decline of USD 438.1 million in Azerbaijan’s strategic currency assets.