CBA to increase monitoring coverage of real sector of economy
The Central Bank of Azerbaijan (CBA) is planning to increase the coverage of the monitoring of the real sector of economy, the Deputy Chairman of the Board of the CBA Khagani Abdullayev told journalists on Friday.
"Currently, the monitoring covers about 400 companies which employ about 70,000 people. The results of the monitoring are very important, because they allow obtaining microeconomic data, which in combination with macroeconomic indicators make it possible to work out a more correct monetary policy and a financial stability policy," Abdullayev said.
According to him, the Central Bank plans to increase the coverage of monitoring of the real sector to the representative level.
"Speaking of a representative level, I mean the coverage of 10 percent of production and employment in the real sector. Now this indicator exceeds nine percent. Only in this year we have increased the coverage of the monitoring of the real sector to 40 companies, and the coverage of additional 50 enterprises with surveys is planned by the end of 2013 year. Our plan is to bring the number of the monitored enterprises to 600 by mid 2014, "- said Abdullayev.
In the next two years the CBA plans to cover with the monitoring 20 percent of the real sector of the economy, the Deputy Chairman of the Central Bank added.
Since 2008 the CBA, has been carrying out conjectural surveys among enterprises and organizations in order to study the business environment in the real sector.
The methodological framework of the system monitoring is based on the "Joint program of business and consumer surveys in the European Union" and the "Guidelines for monitoring the business environment," of the Organization for Economic Co-operation and Development.