Positive economic situation and macroeconomic stability have been prevailing in Azerbaijan since April 2017, Amelie Roux, Director at Fitch Ratings said at the annual conference held in Baku.
According to her, dollarization level has slightly lagged: ‘This is due to increase of confidence in manat in the recent months. Other positive stabilisation is that export in non-oil sector has also progressed. Devaluation had positive impact on this process. We think the oil price will be above $50 in the next years and this supports our forecast on stabilization’.
She added that though a positive dynamics is observed in Azerbaijan’s banking sector, the sensitivity in this sector still remains: ‘With the restructuring of IBA, a very difficult issue was solved. We think will affect economic development’.