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    Elman Rustamov: Sharp drop in inflation is due to balance in foreign exchange market

    Strong conservative monetary policy of CBA also played a role in restraining price increases
    © Report/ Firi Salim

    Baku. 12 February. REPORT.AZ/ The sharp drop in annual inflation in Azerbaijan to 5.5% in January is due to the establishment of a balance in the currency market of the country, the increase of confidence in the national currency, the justified expectations of importers and producers.

    Report informs, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at today's press conference.

    According to him, the tough conservative monetary policy of the CBA also played a role in restraining price increases.

    "After a two-year break, there was economic growth in the country, and on a large scale it is connected with the non-oil sector”, - Rustamov said.

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