Baku, Azerbaijan, March 6
By Sara Israfilbayova – Trend:
The Central Bank of Azerbaijan (CBA) does not expect great changes in the discount rate at the next meeting of the bank’s board, chairman of the bank Elman Rustamov told reporters in Baku on March 6.
Rustamov made the remarks at the high-level forum entitled "Diversification of economy - role of private sector", Trend reports.
He stressed that the bank continues to conduct the analytical work and both internal and external factors are taken into account.
Further, Rustamov added that social reforms in Azerbaijan will not have a great impact on inflation.
“Most of the funds which are allocated within Azerbaijani President Ilham Aliyev’s decree on additional measures in connection with solving of the issue regarding the individuals’ problem loans are not emitting,” he said.
"Before the decree, these funds were envisaged in the state budget for 2019,” Rustamov said. “Some funds will be emitting and all the bank’s tools will be used to prevent inflation."
The CBA decreased the discount rate from 9.75 percent to 9.25 percent on February 1.
The forum entitled "Diversification of economy - role of private sector" was held in Baku on March 6.
The representatives of the World Bank, the Central Bank of Azerbaijan, the Azerbaijani Ministry of Economy, the Ministry of Taxes took part in the forum.
The forum participants discussed the fight against informal employment and the shadow economy, ongoing sustainable reforms in the country, the expansion of digital payments, the development of small and medium businesses and other issues.
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