The impact of Russia‘s economic crisis on Azerbaijan

The impact of Russia‘s economic crisis on Azerbaijan By Nadir Allahverdiyev Senior Researcher CESD Hardly anyone could expect a 33,4% devaluation of the Azerbaijani Manat by the Central Bank in one night. Officials explain that decision with the low oil prices and the “current global economic crisis”. Of course, this may increase ‘manat flow’ into the state budget, which was calculated based on an oil price of $90 per barrel, and 1 USD/AZN rate in 2015 budget was accepted... Read More