Brexit to Have Negative Impact on AZN Exchange Rate
The results of the referendum in the UK to leave the European Union will have a serious impact on the world markets. Just look at the drop in rates of world currencies and oil prices.
All this will put pressure on the Azerbaijani manat, which will fall relative to world currencies.
Such an opinion on his Facebook page was expressed by the renowned economist Gubad Ibadoglu.
He also predicted the fall of the Russian ruble and Turkish lira against the US dollar. -03D-
-
- Social
- 24 June 2016 15:06
-
- Difficult question
- 24 June 2016 16:43
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review