Azerbaijan’s Ministry of Finance: This year, inflation rate forecasted to be 3,1%

Azerbaijan’s Ministry of Finance: This year, inflation rate forecasted to be 3,1%
# 03 September 2020 11:10 (UTC +04:00)

This year, in the conditions of shrinking of total demand and lowness of inflation expectations, the inflation rate is forecasted to be equal to 3,1%, APA reports.

This has found its reflection in the statement of the Ministry of Finance of the Republic of Azerbaijan regarding the initial indicators of state and round-up budget for 2021.

It is noted in the document that on the backdrop of oil prices in the globval economy, the expected food prices on the world market, the rate of growth of the monetary stock and various other factors, in the next year, the inflation indicator is forecasted to be mild and be equal to 3%, while in the following three years, it will be around 2,7-2,8%: “Despite of fluctuations in the currency exchange rates in main trade partner countries in 2020, as well as growth of pressure on exchange rate of the Azerbaijani manat (AZN) on the domestic currency market at different times especially beginning from March, the high liquidity of the market and the stability of exchange rate of manat have been preserved in 2020”.

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