CBA expects rising fuel prices to cause inflation
CBA expects rising fuel prices to cause inflation
The direct and indirect reinforcing effect of the rise in regulated prices (up in fuel prices by the Tariff Council) on the inflation forecast in Azerbaijan is expected to be 1.5 percentage points, of which 1 percentage point can be realized in 2024. This was stated by the Central Bank of Azerbaijan (CBA).
Besides, the CBA statement says that further decisions on maintaining or raising the discount rate will depend on actual inflation and its forecast, as well as on the dynamics of external and internal risk factors.
As a whole, current monetary conditions are aimed at maintaining inflation within the target range and stabilizing inflation expectations.
According to the updated forecasts, while maintaining current conditions, the inflation under the baseline scenario will be 5.4% in 2024 and 5.5% in 2025. An upward change in the inflation forecast is mainly due to expectations of strengthening the nominal effective exchange rate of the manat at a lower rate, as well as changes in prices and tariffs for products and services whose prices are regulated by the state.
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- Finance
- 31 July 2024 12:00
Finance
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Auction on early redemption of government bonds with codes AZ0201040208, AZ0201040240, AZ0201040265 and AZ0201040323 ISIN, placed by the Ministry of Finance, will be held at the Baku Stock Exchange on 25 February. This was reported by the Ministry.
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The Central Bank of Azerbaijan (CBA) has approved ‘Rules of Operational Risk Management in Banks’ developed on the basis of progressive international experience and standards.This is reported on the CBA website.
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In January 2025, contributions to compulsory state social insurance in Azerbaijan totalled AZN 443.4 million. This was reported by the State Tax Service under the Ministry of Economy.
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In 2024, insurance companies in Azerbaijan concluded 50,207 contracts of ‘Green Card’ for a total amount of AZN 7.2 million.This was reported by the Mandatory Insurance Bureau (BIB).
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