There is pressure on AZN and this process will continue at least until the next year, the economist Natig Jafarli said.
In an interview with Turan the expert noted that he is not waiting for sudden shocks, but before the end of the year through a soft devaluation the dollar will rise to 1.80-1.90 manat.
“The US Federal Reserve will certainly increase the interest rate, the oil began to fall in price last week, the import of products in connection with New Year holidays will be increased, and the number of people traveling on holidays will grow. All this creates a high demand for foreign currency,” he said.
According to him, the value of the manat after the New Year will depend on the processes in the world.
“It's hard to say how things will be after the New Year. But in 2016 the dollar will not stop the growth,” Jafarli said. --71B
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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