Inflation stands at lowest level in Azerbaijan

Photo: Inflation stands at lowest level in Azerbaijan
 / Economy news

Baku, Azerbaijan, May 10

By Elchin Mehdiyev - Trend:

A macroeconomic stability is being observed in Azerbaijan, according to the chairman of the managing board of Azerbaijani Central Bank (CBA), Elman Rustamov.

"Inflation in the country is at its lowest level. By the outcome of the first quarter, the inflation in the country stands at two percent. At the same time we pursue the policy of reducing the interest rates in Azerbaijan," Rustamov said speaking to journalists on Saturday, May 10.

He went on to add that a stable macroeconomic situation and low inflation rate are forecast to be present in Azerbaijan until late 2014.

"The interest rates need to be reduced. They should be reduced to such a level that they will be suitable both for population and businesses," the CBA head stressed.

Translated by E.A.

Edited by S.I.

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