Azerbaijan's banking sector sees growth in its foreign liabilities
Azerbaijan's money supply kept on growing in May, showing that the financial sector is on the up and up. Broad money (M2) saw a jump of 3.9 percent year-on-year, hitting the sweet spot at 35.7 billion manat ($21.1 billion). In the meantime, the banking sector's foreign liabilities have been on the rise, fueled by a surge in short-term borrowing from overseas.
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