SOFAZ Received Record Asset Management Revenues that Exceeded Forecasts in 2019

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.

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.

After the devaluations of 2015, double-digit inflation from 2016-2017 was repeated in 2022.

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.