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Fitch expects inflation decrease in Azerbaijan for 2023

Economy Materials 1 April 2023 13:41 (UTC +04:00)
Fitch expects inflation decrease in Azerbaijan for 2023
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 1. Fitch Ratings, the international rating agency, predicts a decrease in inflation in Azerbaijan to an average of 10.3 percent in 2023, Trend reports via the agency.

"We also forecast a decline in inflation to 7.3 percent in 2024 against the backdrop of decline in commodity prices, mitigation of supply chain disruptions and reinforcement of the real effective exchange rate," the agency said.

Furthermore, the Central Bank of Azerbaijan has maintained the forecast for annual inflation in the country in 2023 at the level of 8 percent.

Fitch Ratings Inc. is one of the world's most reliable rating agencies. The purpose of the agency is to provide business intelligence to make better decisions and reduce business risks for its clients.

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