Central Bank: Monitoring results of Azerbaijan's real sector are optimistic

Business Materials 16 March 2010 17:23 (UTC +04:00)

Azerbaijan, Baku, March 16 / Trend I. Khalilova /

"The Central Bank of Azerbaijan assesses the results of monitoring of the real sector as optimistic, as it was expected. The bank director general Khagani Abdullayev said that a poll among counteragents of the economy showed that sales have stabilized and the business is developing in a normal way.

"In particular, the growth is observed in the food industry and trade. Even the service sector is growing much faster than the food industry", Abdullayev said.

According to him, besides the construction sector, where the situation has stabilized, the growth is observed in other sectors.

The essence of the monitoring of the real sector is to conduct a poll among counteragents of the economy to learn about their vision of the economic situation, expectations in the economy, production capacity. This allows you to develop policy in line with their expectations.

Central banks around the world think this is the most high-quality information that can not be seen in conventional statistics. Such information allow forecasting expectations for the short term.

The Central Bank established a group to monitor the real sector in 2006. The experience of the Turkish Central Bank was studied to introduce this technique in Azerbaijan.

The Central Bank conducts surveys of the real sector on a quarterly basis.