Baku, Azerbaijan, May 10
By Azad Hasanli – Trend:
The European Bank for Reconstruction and Development (EBRD) has forecasted a two-percent growth of Azerbaijan’s economy in 2018, according to the EBRD’s updated Regional Economic Prospects report.
The bank forecasts Azerbaijan’s economy to contract by 0.5 percent in 2017, according to the report.
After a brief period of volatility in the beginning of 2017, the Azerbaijani manat-US dollar exchange rate has stabilized, said the report.
However, Azerbaijan’s liquidity buffers remain sizeable, with reserves of $37.1 billion at end-2016, according to the report.