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
-
The European Commission views Azerbaijan’s increasing gas exports to Europe as a vital alternative for ensuring the EU’s energy security, European Union Energy Commissioner Kadri Simson told Turan in an exclusive interview during the COP29 summit in Baku.
-
The State Oil Company of Azerbaijan (SOCAR), which joined the global Oil and Gas Methane Partnership 2.0 (OGMP 2.0) earlier this year, hosted a forum on November 15 within the "Green Zone" of COP29. The event, titled "OGMP 2.0 Leadership Forum," brought together key stakeholders to discuss progress and prospects for methane emissions reduction in the oil and gas industry.
-
Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), highlighted the urgency of climate financing discussions ahead of his visit to the G20 summit in Rio de Janeiro from November 17-20. Stiell, speaking before departing from Baku where the 29th session of the UNFCCC is currently underway, underscored the pivotal nature of the negotiations taking place.
-
The State Oil Company of Azerbaijan (SOCAR) is strengthening its presence in Bulgaria's gas distribution sector, aiming to capture 7.5% of the market by the end of 2024. Currently, SOCAR supplies half of Bulgaria's natural gas needs and plans to further increase its market share through strategic partnerships and expanded distribution.
Leave a review