International Monetary Fund has updated its forecasts on currency reserves of Central Bank of Azerbaijan for 2019-2024, APA-Economics reports citing statement, published by IMF.
According to the report, while in April the Fund forecasted currency reserves of the CBA to be USD 6 bln. at the end of the current year, new report notes these indicator will reach USD 7,01 bln. until end of 2019.
According to IMF's forecasts, in 2020 currency reserves of the CBA will be USD 7,31 bln. (April forecast - USD 6,3 bln.), in 2021 – USD 7,61 bln., in 2022 – USD 7,91 bln., in 2023 – USD 8,21 bln., and in 2024 – USD 8,51 bln.
Moreover, according to the IMF’s calculations, at the end of 2019 volume of currency reserves of the CBA will allow to meet consumption expenditures in non-oil sector for 5,9 months, in 2020 – 6,3 months, in 2021 – 6,8 months, in 2022 – 7,4 months, in 2023 – 7,8 months, in 2024 – 8,3 months.
Note that currency reserves of the CBA was USD 6,01 bln. on August 30 of current year.
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