CBA Recognizes Difficulties for Balance of Payments and a Number of Banks in Terms of COVID-19
Finance
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In recent days, news has been spreading in the media that another devaluation will take place in Azerbaijan in the near future. A decrease in the trade and payment surplus may soon lead to a depreciation or devaluation of the manat: “In recent months, we have seen a decrease in the country's balance of payments.
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On July 16, the State Oil Company of Azerbaijan (SOCAR) announced its intention to acquire a 51% stake in Azər Türk Bank, which was transferred to the Azerbaijan Investment Holding (AIH) for "rehabilitation" exactly two years ago.
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After the devaluations of 2015, double-digit inflation from 2016-2017 was repeated in 2022.
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Against the background of the decrease in oil revenues in Azerbaijan, the increase in regulated and market prices increases expectations regarding the manat's devaluation.
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