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Payment balance expected to be in surplus in 2023 - CBA

Finance Materials 28 October 2022 12:30
Baku, Azerbaijan Trend News Agency
Payment balance expected to be in surplus in 2023 - CBA

The volume of foreign trade in the current operation balance increased by 3.1 times compared to the same period last year, Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said during a press conference, Trend reports citing CBA.

"International Monetary Fund (IMF) forecasts global energy prices to be at the level of $98.9 at the end of this year, and $85.52 at the beginning of the next year. And this allows CBA to say that balance of payments will be in surplus in 2023," he said.

The Central Bank of Azerbaijan (CBA) adopted the decision to raise the discount rate by 0.25 percent, up to eight percent on October 28. The upper limit of the interest corridor remained at the level of 9.25 percent, while the lower limit was raised by one percent up to five percent.

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