The Central Bank of Azerbaijan issued a statement on the main directions of monetary and fiscal policy in 2015. Given the important role in maintaining social welfare and investment activity, stability of the national currency will be one of the priorities of the CBA.
The document notes that, depending on the economic situation in order to effectively support economic growth, flexibility of monetary policy will be enhanced.
In the coming year, monetary and exchange rate policy will be carried out taking into account the global economic risks and calls for the strategic development of the national economy. In this case, the CBA will respond both to the risks of inflation and deflation. The nature and extent of this reaction will vary, depending on factors influencing the inflation of supply and demand.
In 2015, prudential supervision of the banking sector will be toughened to ensure financial stability, and the policy of counter-cyclical regulation will be continued. Important priorities of the financial policy will also include empowering access to business crediting and banking and financial infrastructure, encouraging lending to the real sector. Work will continue in the direction of lower interest rates on loans of commercial banks. 08D
Economics
-
Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
-
Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
-
Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
-
The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
Leave a review