CBA: This year, current account surplus projected at 15% of GDP

The Central Bank of Azerbaijan (CBA) forecasts a current account surplus of about 15% of gross domestic product (GDP) by the end of 2023 under the baseline scenario, Report informs referring to the CBA.

“Favorable external conditions played a special role in maintaining balance in the foreign exchange market. In January-June 2023, the current account surplus of the balance of payments amounted to $5.2 billion or 14.5% of GDP. In the context of a balance of payments surplus and the continuation of de-dollarization processes, the supply at the foreign exchange market sharply exceeds demand,” the Central Bank noted.