Baku, Azerbaijan, Nov. 23
By Azad Hasanli – Trend:
The volume of imports of goods to Azerbaijan is expected to hit $6.5 billion until the end of 2017, first Deputy Chairman of the Central Bank of Azerbaijan (CBA) Alim Guliyev said.
He made the remarks at the 2nd Banking Forum “Adaptation of banking system to new stage of development” in Baku Nov. 23.
“At present, a $1.1 billion surplus is observed in the balance of payments, and we expect this figure to grow by the end of the year,” he said. “Our expectations linked with the growth in oil prices, non-oil exports and the reduction of imports.”
Thanks to these measures, international currency reserves grew 13 percent, to $42 billion for the year, he added.
“The surplus of the balance of payments supports the stability of the currency market and the exchange rate of the Azerbaijani manat,” he said. “Since the beginning of the year, the national currency has strengthened by four percent, and since February this year by more than 11 percent.”