BAKU, Azerbaijan, March 18. Oil prices in 2022 will exceed $110 per barrel, Moody's said in its updated forecast published in February, Trend reports.
According to the forecast, amid a reduction in remittances from Russia and trade with this country, the current economic balance of most CIS countries will worsen.
However, according to Moody's analysts, the growth of revenues from hydrocarbon exports will make Azerbaijan and Kazakhstan insensitive to this external pressure.
"The rise in energy prices makes this possible, and these countries will be able to maintain financial stability and foreign exchange reserves," the forecast said.
Besides, despite the weak economic outlook for the CIS region, Azerbaijan and Kazakhstan will benefit from higher commodity prices, whose incomes will increase, added the forecast.