CBA maintains stable forecasts on economic growth and CAB
The Central Bank of Azerbaijan forecasts economic growth in the country this year at the level of 3.5-4%, including in the non-oil and gas sector-5.5-6%.
Chairman of the organisation Taleh Kazimov stated this at a press conference at the CBA.
‘Next year, the country's gross domestic product (GDP) is expected to grow by 2-2.5%, including in the non-oil and gas sector by 4-5%. This is the same as our April forecasts,’ he added.
Furthermore, according to the chairman, the CBA's forecast for the current account balance (CAB) surplus in April this year, based on the baseline scenario, has not changed: "‘Like 3 months ago, we expect a surplus of $ 7 billion on the CAB in 2024 and $ 6 billion in 2025."
Finance
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The Baku branch of the National Bank of Iran is working to fulfill the instructions of the Central Bank of Azerbaijan (CBA), director general Togrul Aliyev said at a press conference at the CBA.
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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).
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The Central Bank of Azerbaijan (CBA) has decided to keep the discount rate at 7.25%. This is reported on the website of the structure.
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"Qala Insurance" company has increased its authorised capital. This is reported in the State Register of Commercial Organisations of the State Tax Service under the Ministry of Economy.
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