Economic experts positively regarded the Central Bank's decision to cancel a 4% margin in establishing foreign exchange rates in commercial banks.
Although the decision has not yet entered into force, as it can be seen from the signals coming from the banks it will happen soon.
The economist Natig Jafarov on his profile on Facebook, touching upon this decision, pointed out that he had long been talking about it.
“Despite the fact that the President accuses us of incompetence, he listens to our advice. In any case, it is a positive fact,” he said.
The banking expert Akram Hasanov also praised the decision to cancel the 4% margin, and noted that it is the beginning of the path to a floating rate.
“In this case, the Central Bank intervention is rare and partial. We can say that we have really started a floating rate,” he said.
According to him, if the Central Bank's intervention is frequent, there will be no floating exchange rate. He noted that the last option is unlikely because the Central Bank does not have as much currency.
But the economist Samir Aliyev believes the complete abolition of the margin should be for a short time to increase the margin to 6-8%. -71D-
Economics
-
The new law on "Political Parties," adopted two years ago, came into effect early last year and has been criticized by the Venice Commission, is already making its impact felt. On December 4, the activities of two political parties—the Freedom Party and the Party of Free Democrats—were halted through court orders. The Ministry of Justice cited discrepancies in the documentation of these parties as the reason for its appeal to the court.
-
In the first ten months of 2024, Baku's trade turnover registered a 4.4% increase compared to the same period last year, reaching a substantial 28.2 billion manat, according to the Baku City Statistics Department.
-
In a significant move to bolster its financial capabilities, Azerbaijan's state-owned energy company SOCAR has signed an agreement with Italy's Intesa Sanpaolo bank. The pact, which underscores growing cooperation between the two entities, marks a step forward in securing financial resources for SOCAR's ambitious projects, including its ventures in green energy.
-
In the first 11 months of 2024, Azerbaijan experienced a robust recovery in its tourism sector, with 2.41 million foreign and stateless individuals visiting the country, marking a 27.4% increase compared to the same period last year, according to the State Border Service. This growth reflects Azerbaijan’s increasing appeal as a travel destination, bolstered by diversification in source markets and improved transport infrastructure.
Leave a review