BAKU, Azerbaijan, June 14
By Zeyni Jafarov - Trend:
The payment balance of Azerbaijan was influenced by the positive tendencies of the recovery in prices in the world commodity markets, the growth of non-oil exports, as well as the movement of capital in the first quarter of 2021, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to the CBA, the balance of current operations amounted to $627.7 million. Due to the movement of capital in the current account of the payment balance of Azerbaijan, a surplus of $15 million was formed, and reserve assets rose to $325.9 million.
The average oil price during this period was $ 52.4 per barrel, while non-oil exports increased by 11 percent, added the CBA.
Earlier, the Standard & Poor's (S&P) international rating agency published a forecast, according to which in 2022 Azerbaijan's current account surplus will grow to 2.5 percent, and in 2023 and 2024 it will be 4.5 and 4.4 percent, respectively.
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