BAKU, Azerbaijan, Mar.19
By Zeyni Jafarov – Development:
Expectations for the restoration of financial development in Azerbaijan in 2021 are already being justified within the non-oil sector of the economic system, Development studies just about the Central Financial institution of Azerbaijan (CBA).
From January by means of February 2021, development within the main sector – the non-oil trade – amounted to 12.1 p.c, in agriculture – 2.3 p.c, in transport and storage – 10.9 p.c.
Based mostly on the outcomes of monitoring the true sector of economic system, the CBA famous that the index of entrepreneurial confidence in February tended to develop within the spheres of commerce and providers in comparison with January.
“In building, there has additionally been a constructive pattern in orders to be fulfilled,” mentioned the financial institution.
“Within the short- and medium-term, the method of restoration of each exterior and inner demand in Azerbaijan is anticipated to proceed. Home demand can be supported by stimulating fiscal, financial and macroprudential insurance policies, in addition to reconstruction work within the territories of Azerbaijan liberated from Armenian occupation,” the CBA report reads.
On March 19, the CBA Board decided to maintain the low cost price on the degree of 6.25 p.c. On the identical time, the decrease restrict of the rate of interest band was set at 5.75 p.c, and the higher restrict at 6.75 p.c.
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