CBA Chairman: "Azerbaijan's economy can withstand current oil prices longer than Russia"

CBA Chairman: "Azerbaijan's economy can withstand current oil prices longer than Russia"
  • Clock-gray 13:54
  • calendar-gray 11 March 2020

Azerbaijan will take strict measures against artificial price hikes and currency swindlers, Elman Rustamov, Chairman of Azerbaijan's Central Bank (CBA) told journalists, APA-Economics reports.

According to him, the CBA excludes the option of increasing inflation through US dollars

"Because the key anchor of inflation is the rate. We are taking measures to ensure that it does not change, which means that we do not expect this factor to affect inflation. But we also know objective factors. With the spread of coronavirus, there may be certain problems with providing currency, some fraudsters may take advantage of this. The government will monitor this. In addition, measures will be taken to improve the provision of currency. At the same time, very strict measures will be taken against those who abuse this situation, artificially raise prices, as well as against currency swindlers," said CBA Chairman. 

Narmin Rahimova

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