EBRD: Energy prices and demand for gas will support Azerbaijan's economy

EBRD Vice President for Policy and Partnerships Mark Bowman

© APA | EBRD Vice President for Policy and Partnerships Mark Bowman

# 23 January 2023 14:55 (UTC +04:00)

"Unexpected short-term factors including higher net inflow of money transfers from Russia, and higher than expected income generated from tourism," EBRD Vice President for Policy and Partnerships Mark Bowman said in his interview with APA-Economics.

"In case of Azerbaijan, the main reason is the current spike in energy prices.

We think that energy prices and demand for Azerbaijani gas will remain high this year, which will support the country’s overall economic performance during the 2023. This being said, however, we would like to use this window of opportunity to ensure country’s medium and long-term resilience, and to boost local production, which would benefit from more reliable supply chains and logistics solutions," he said.

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