Azerbaijan's Finance Ministry Holds Deposit Auction To Improve Budget Efficiency

2025-07-18 10:06:32

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 18. The Ministry of Finance of the Republic of Azerbaijan has organized another deposit auction aimed at improving the effective management of state budget funds, Trend reports.

The auction involved placing funds from the treasury account, denominated in the national currency, as deposits in local banks.

The Ministry noted that a total of 500 million manat ($294.1 million) from the treasury account was placed as deposits for a 28-day period in three of the country's five largest banks. These banks were selected based on their level of capitalization and total assets.

The funds were placed at an average weighted interest rate of 7.25 percent.

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