BAKU, Azerbaijan, October 28. The increase in the discount rate in Azerbaijan is primarily due to external factors, Board Chairman of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference on October 28, Trend reports.
According to Kazimov, Azerbaijan's foreign trade turnover from January through September this year grew by 3.1 times, non-oil exports - by 17 percent, and energy prices are also rising.
"We expect that the cost of one barrel of oil in 2022 will be $98.9, and in 2023 - $85.52. This creates a basis for us to maintain the stability of the country's economic growth," he added.