Azerbaijan reveals estimates of average annual inflation for next four years
BAKU, Azerbaijan, Sept. 4
By Zeyni Jafarov - Trend:
The Consumer Price Index (CPI) in Azerbaijan is forecasted to grow by an average of 2.8 percent, Trend reports referring to the report of the Azerbaijani Finance Ministry on preliminary indicators of the state and consolidated budgets for 2021.
"In 2020, aggregate demand is forecasted to decline by 3.1 percent in terms of low inflationary expectations. Amid rising oil prices, expectations for world food prices, money supply growth rates and other factors in the global economy, inflation is forecasted to be 3 percent in 2021, and will vary within 2.7 and 2.8 percent from 2021 through 2024," said the report.
Despite the fluctuations in the exchange rate of the main trading partners this year, the high liquidity of the market, and the stability of the manat rate remains, the report noted.
On September 3, the Azerbaijani Finance Ministry posted a forecasted report on the relative state budget for 2021.