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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The analysis shows that the economic growth in Azerbaijan in 2026-2028 will be fully ensured at the expense of the non-oil and gas sector.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In January-August 2024, two state financial institutions of Azerbaijan jointly paid dividends in the amount of AZN 169.9 million, or about $100 million. This is stated in the conclusion of the Accounting Chamber over the Draft Law ‘’On State Budget for 2024‘’.
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President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In 2025, the subsistence minimum in Azerbaijan will amount to AZN 305 for able-bodied population, AZN 232 for pensioners and AZN 246 for children. This is stated in the Draft Law ‘On Subsistence Minimum for 2025’.
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