BAKU, Azerbaijan, November 20. This week, the Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, at the parliament's plenary session on the state budget for 2023, noted that for the first 10 months of the year, the manat rate increased by 9.2 percent, Trend reports.
He said that the CBA is going to attempt to maintain a stable exchange rate next year, and to do everything possible in order to ensure this stability.
This week, a discussion on the perspectives of cooperation between the CBA and the World Bank (WB) was held.
Moreover, the cooperation between Azerbaijan and the WB was discussed during the meeting of the Minister of Economy, Mikayil Jabbarov, with the bank's country manager, Sara Michael.
Also, the Asian Development Bank (ADB) has expressed readiness to release green bonds in Azerbaijan in 2023.
Furthermore, the S&P Global Ratings international rating agency shared the forecast for loan growth in Azerbaijan. According to the forecast, loan growth is expected to be 15 percent in 2022. The agency also forecasts the return on average assets (RoAA) per sector at 1.5 percent this year and 1.2 percent in 2023.
Moreover, S&P Global Ratings increased the forecast for the average annual inflation rate in Azerbaijan up to 13.5 percent in 2022.
At the same time, the agency expects that Azerbaijan's economic growth during 2023–2025 is going to compile at 1.5 percent, since new gas capacities only partially compensate for a gradual decrease in the oil sector.