Given today's "scoreboard" balance of payments non-oil deficit of about $ 7.4 billion, it is difficult to predict how the real exchange rate of the manat will behave in the "floating" mode. But one can assume with certainty that the economy hardly "standing on its feet" will suffer the final collapse. So suggests economist Rovshan Agayev, commenting on the government's plans to complete transition of the national currency to floating.
In the first 9 months payments of trade deficit balance amounted to $ 4 billion 145 million, balance of services - $ 312 million and financial operations - $ 2 billion 935 million.
According to Agayev, manat will go to a floating exchange rate as a stable currency, if the non-oil deficit of the balance of payments changes for surplus, or at worst - falls to a minimum.
It should be noted that the government intends to abandon the controlled exchange rate of the manat and completely switch to a floating exchange rate. ------08D
Economics
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