The current balance in Azerbaijan's foreign exchange market helps maintain exchange rate stability, Governor of the Central Bank of Azerbaijan Taleh Kazimov said at today's meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.
Kazimov said that in connection with fiscal operations this year, the Central Bank's intervention in the foreign exchange market amounted to $1.248 million.
"Expectations regarding economic growth prospects are optimistic: according to the latest Central Bank forecasts, the GDP growth will be 1.5% in 2023, 3.5% and 4% in 2024-2025, respectively. And non-oil GDP is projected to grow by 3% in 2023, 6% in 2024 and 5.5% in 2025," he said.
The head of the Central Bank added that annual inflation dropped to 5.1% in September this year: "Consumer prices for food increased by 4.5%, prices for non-food products rose by 5.9%, and prices for services rose by 5.4%."