Azerbaijan Economy in 2016; Brief Overview

Azerbaijan Economy in of 2016; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for 2016. Both independent and official reports show that GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased 3.8 % in 2016 since CESD calculations found out 4.4 % decline in the economy. According to the State Statistic Committee reports, the... Read More

CESD’s independent inflation rate was announced

CESD’s independent inflation rate was announced CESD- Center for Economic and Social Development concluded its macro-economic survey results including price collection for the April in 2016. According to the CESD price collection survey which covers the capital city and selected districts in rural Azerbaijan, annual inflation was 15.3 % in April 2016. Monthly inflation in April was 1.1 % compared to the previous month. Meanwhile, the State Statistics... Read More

Vugar Bayramov: “In 2015, Inflation Projected at 10%”

Vugar Bayramov: “In 2015, Inflation Projected at 10%” The Central Bank of Azerbaijan on Monday decided to cancel binding AZN to the US dollar and the transition to the two-currency basket with dollar and euro in determining the rate of the national currency. This led to panic and hype among the population and queues of people wanting to change manat for dollars appeared at bank exchange points. The expectations of what will happen to manat... Read More

Inflation comes in higher than expected

Inflation comes in higher than expected “The macroeconomic indicators are positive, and the trend will continue throughout the second half of this year,” Chairman of the Center for Economic and Social Development Vugar Bayramov told local press. “But, a look at specific sectors of the economy shows that there would be a price hike in the consumer market,” the experts said. It is expected that in August and September the prices... Read More

Inflation Rate in January: Government Reports 0,6 %, CESD Survey Concluded 1,4 %

Inflation Rate in January: Government Reports 0,6 %, CESD Survey Concluded 1,4 % Inflation rate was 0,6 % in Azerbaijan in January, 2013- reported State Statistic Committee. The committee reported that prices of non-food products increased by 0.1%, prices and service tariffs of consumer goods increased by 1.2 % in January, 2013 compared to previous month. The committee added that price for services for air passenger transport on international flights... Read More

Tracking the Discount Rate Cut in Azerbaijan

Tracking the Discount Rate Cut in Azerbaijan The Central Bank has lowered its discount rate from 5.00% to 4.75 % starting this week. According to the Central Bank, taking into account the optimal level of inflation, this step will lead to a decrease in inflation rates and thereby support economic growth in non-oil sectors.  The bank said that the targeted inflation rate would maintain currency stability and increase the money supply appropriately.... Read More

To Cut or Not to Cut?

To Cut or Not to Cut?   İs that the Question for Central Bank in Azerbaijan? The Central Bank has lowered its discount rate from 5.25% to 5% starting this week. According to the Central Bank, taking into account the optimal level of inflation, this step will lead to a decrease in inflation rates and thereby support economic growth in non-oil sectors.  The bank said that the targeted inflation rate would maintain currency stability and increase... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More