BAKU, Azerbaijan, Dec.15
By Zeyni Jafarov - Trend:
The current account balance, which is the main component of the balance of payments, was close to stable in the first nine months of 2020 amid unfavorable external conditions, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to the bank, the change in export prices mainly influenced the balance of payments. Besides, an equalizing effect on the balance of payments was played by a decrease in imports of goods and services of the non-oil sector in the context of the COVID-19 pandemic.
Reportedly, the total deficit of Azerbaijan's balance of payments from January through September this year amounted to $1.8 billion, while in the same period of the previous year, a surplus of $4.1 billion was formed in Azerbaijan's balance of payments.
The surplus was formed due to a current account deficit of $208.3 million, a capital account deficit of $7.6 million, a financial account deficit of $2.1 billion, and a balance of $517.8 million.
The Azerbaijani Finance Ministry in primary statistics indicated a budget deficit worth 677.6 million manat ($398.6 million). From July through September 2020, the state budget was implemented in the amount of 5.9 billion manat ($3.4 billion).
(1 USD = 1.7 manat on Dec.15)
---
Follow the author on Twitter: @jafarov_zeyni