Central Bank prepares proposal to reduce pressure on manat

Central Bank prepares proposal to reduce pressure on manat
# 06 December 2016 13:02 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. We needed to limit entry of funds on domestic and foreign debts the currency market, chairman of the Central Bank of Azerbaijan Elman Rustamov said in the discussion of state budget package for 2017 at the plenary meeting of the parliament.

According to him, one of the main objectives is to achieve settlement of the debt and investment problems outside the market: “We have proposals in this direction. This issue was discussed with the participation of the prime minister. We think it’s needed to limit entry of funds on domestic and foreign debts the currency market by manoeuvring in the period of transition. Because this situation creates additional pressure on the manat rate and causes manat devaluation”.

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THE OPERATION IS BEING PERFORMED