BAKU, Azerbaijan, August 2
By Zeyni Jafarov - Trend:
The annual forecast on inflation in Azerbaijan as of late 2021 has been adjusted upward, mainly taking into account the direct and indirect influence of expenditure factors, Seymur Ibadov, head of the research and investment consulting department of Unicapital OJSC, told Trend on Aug. 2.
“It is predicted that annual inflation this year will approach the upper limit of the declared target range of the Central Bank of Azerbaijan (4 ± 2 percent),” Ibadov added.
The restoration and acceleration of economic growth in Azerbaijan could have a positive impact on the stabilization of inflation in the coming months.
Referring to the current state of the domestic capital market, Ibadov stressed that an auction on the placement of another tranche of medium-term bonds of the Azerbaijani Ministry of Finance is scheduled for August 3 at the stock exchange in Baku while the envisaged volume on orders is 10 million manat ($5.9 million).
If the demand for the state bonds during the trading exceeds the supply and an issuer is pleased with the price, the volume of offered bonds can be increased up to 50 percent.
After the June decision of the Central Bank of Azerbaijan on the interest rate, 0.5 percent-deflation was observed in the country, head of the Central Bank of Azerbaijan Elman Rustamov said.
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