Azerbaijan, Baku /corr. Trend I.Khalilova / The Government of Azerbaijan expects a 5% raise in the rate of the national currency in relation to the USD in 2008. These forecasts have been stipulated in the project of 2008 State budget.
The Finance Minister of Azerbaijan, Samir Sharifov, said on 27 September that on the one hand, the rise of the AZN is a factor preventing the inflation. On the other hand, serious processes are taking place in the world with regards to the devaluation of the dollar in relation to the world's leading currencies, and it also affects Azerbaijan.
"The process of re-valuating the dollar attests to what is going on all over the world. I think that this process will also take place in Azerbaijan," Sharifov said. In addition, huge foreign investments are expected to flow into Azerbaijan's economy.
"Currently huge investors appear in the market and they invest into Azerbaijan's State securities. Therefore, this is an objective process, but in this plan, the macroeconomic forecasts on the rate of the AZN have grounds," the Minister said.