Azerbaijan's strategic foreign exchange reserves approach $73 billion
In January-August 2024, Azerbaijan's strategic foreign exchange reserves rose by 6.1% and reached $72.6 billion. This is reported by the Central Bank of Azerbaijan.
"In the first half of this year, the country's balance of payments had a current account surplus of $2.6 billion, or 7.5% of gross domestic product (GDP). The foreign trade balance, which is the main component of the current account, recorded a surplus of $5.5 billion in 8 months," the CBA said in a statement.
Finance
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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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