Capital outflow from Azerbaijan exceeds $1B

In the first quarter of this year, the negative balance of Azerbaijan's financial account (capital outflow from the country) amounted to about $1.2 billion, which is about 25% less compared to the same period last year, Samir Nasirov, director of the Statistics Department of the Central Bank, said at a press conference, Report informs.

He noted that the deficit is mainly due to an increase in the country's external financial assets by about $1.2 billion and a decrease in net financial liabilities by $45 million.

This shows that in subsequent periods the country will receive additional interest income, he added.