No reason for devaluation in Azerbaijan today, CBA Chairman says

No reason for devaluation in Azerbaijan today, CBA Chairman says
  • Clock-gray 12:23
  • calendar-gray 24 December 2020

"There is no reason for devaluation in Azerbaijan today," chairman of the Central Bank Elman Rustamov said at today's meeting of the Milli Majlis, APA reports.

"The chairman of CBA noted that to return to a sustainable economic growth trajectory, starting to reconstruction works of the liberated territories are one of the main duties: “Budget expenditures being counter-cycle next year has been directed to stability. The increase in the budget deficit in recent years causes some concern. It's financing through non-sustainable sources gives grounds to say so. There is a need for financing budget deficits through more sustainable sources. We forecast 3-4 inflation for the next year. In recent days we see rumors in the media. They try to create devaluation expectations. Today there is no cause for devaluation in Azerbaijan," said Mr. Rustamov.

Firuza Vahid

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