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S&P shares forecast on foreign exchange reserves growth of Central Bank of Azerbaijan by 2027

Economy Materials 12 June 2023 07:30 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, June 12. The S&P Global Ratings predicts an increase in foreign exchange reserves of the Central Bank of Azerbaijan (CBA) to $12.608 billion by 2027, Trend reports.

At the same time, according to the agency's forecasts, in 2023 the CBA's foreign exchange reserves will increase to $9.923 billion, in 2024 - up to $10.892 billion, in 2025 - up to $11.735 billion.

Thus, in 2023-2026, the growth of the bank's reserves, according to S&P forecasts, will be 40.1 percent.

At the end of 2022, the CBA's foreign exchange reserves amounted to $8.995 billion.

As of May 31, 2023, the CBA's foreign exchange reserves amounted to $9.175 billion.

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