BAKU, Azerbaijan, July 29. Based on the
resolution of the Administration Board of Central Financial institution of Azerbaijan
(CBA), the bottom charge was stored unchanged, Governor of CBA Taleh
Kazimov stated at a press convention, on July 29, Development studies.
“The worldwide economic system is the primary issue that influenced this
resolution amongst a number of inside and exterior elements. Uncertainties
related to the expansion of worldwide economic system are excessive, however
worldwide surroundings when it comes to steadiness of funds stays
favorable for Azerbaijani economic system,” Kazimov stated.
“The optimistic steadiness of overseas commerce elevated, within the context
of enhancing commerce circumstances, by 3.5 instances in first half of 2022
in comparison with the identical interval final 12 months. That is defined by excessive
world costs for the primary export commodities and realization of
non-primary export potential,” Kazimov famous.
He additionally added that the common worth of Brent Crude Oil was
$105.4 per barrel within the first half of 2022.
“We’re seeing a rise in remittances to Azerbaijan apart from
the enhancing overseas commerce indicators. This definitely results in an
enhance in optimistic steadiness of funds,” he stated.
“We notice that the tightening of financial coverage in nations,
that are Azerbaijan’s essential buying and selling companions might have a downward
impact on import inflation,” Kazimov stated.
