CBA expects current account surplus to continue to decline
The Central Bank of Azerbaijan (CBA) forecasts that in 2024 the surplus of the current operating balance of the country will be $7billion.
This was stated by CBA chairman Taleh Kazimov at a press conference. He added that in 2025 we expect a surplus of $6.5 billion.
As a reminder, in 2023, Azerbaijan's current account surplus was $8.3 billion to 11.5% of gross domestic product. This is down by 65% from 2022.
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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