BAKU, Azerbaijan, November 10. The Central Bank of Azerbaijan (CBA) jointly with commercial banks last week discussed a new operating structure, the activation of the inter-bank money market, the launch of open market instruments and permanent opportunities, as well as other relevant issues, Trend reports.
Besides, last week, Governor of the CBA Taleh Kazimov met with Ambassador of Pakistan Bilal Hayee and General Manager of the Baku branch of the National Bank of Pakistan (which is under liquidation) Sheikh Ahtsham Ahmed. At the meeting, gratitude was expressed for activities of the branch in Azerbaijan and possibilities for future cooperation between financial and banking sectors of Azerbaijan and Pakistan were discussed.
Meanwhile, Central Banks of Azerbaijan and Uzbekistan last week discussed future areas of cooperation.
The CBA also noted that it will strive to continue the policy of a stable exchange rate next year, and will do everything possible to ensure this stability.
Last week, Small and Medium Business Development Agency of Azerbaijan (SMBDA) and International Finance Corporation (IFC) discussed financing of public-private partnership projects.
Along with the above, the Ministry of Finance of Azerbaijan prepared basic, optimistic and pessimistic scenarios for Azerbaijan's GDP growth in 2023.
The basic scenario envisages GDP growth by 2.7 percent (nominal GDP will be 106 billion manat or $62.3 billion) with an average oil price of $50 per barrel. The optimistic scenario based on an oil price of $60 per barrel assumes an increase of 3.3 percent (nominal GDP - 111.2 billion manat or $65.4 billion), the ministry noted.
The pessimistic option, according to the ministry, is calculated based on the price of oil at $40 per barrel - an increase of 1.3 percent (nominal GDP - 99.1 billion manat or $58.3 billion).
Besides, under the basic scenario, the non-oil GDP in 2023 will increase by 4.5 percent (nominal GDP - 73.3 billion manat or $43.1 billion), under an optimistic scenario – by 5.6 percent (nominal GDP - 75 billion manat or $44.1 billion), and according to the pessimistic scenario - by two percent (nominal GDP - 69.9 billion manat or $41.1 billion), the ministry added.