BAKU, Azerbaijan, January 31. According to forecasts of the Central Bank of Azerbaijan (CBA), the current account surplus of the balance of payments will amount to $7-8 billion in 2024, CBA chairman Taleh Kazimov said during a press conference on changes in parameters of the discount rate, Trend reports.
"It is predicted that the average annual surplus of the current account of Azerbaijan's balance of payments in 2024-2025 will amount to $7 billion," he noted.
According to Kazimov, the surplus of the current account for the balance of payments in 2023 amounted to $9–10 billion.
To note, the 2024 forecast is grounded on the base case and is 9-10 percent of expected gross domestic product (GDP).
The data of the State Statistics Committee of Azerbaijan showed that the country's GDP in 2023 amounted to 123 billion manat ($72.35 billion), and real economic growth is estimated at 1.1 percent.
The CBA lowered the discount rate on January 31 from eight percent to 7.75 percent.
According to the CBA, the top limit of the interest rate corridor was lowered from nine percent to 8.75 percent and the lower limit from 6.5 percent to 6.25 percent.
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