Elman Rustamov: Speculations regarding devaluation are unfounded

Baku. 1 February. REPORT.AZ/ "Speculations about devaluation in Azerbaijan are unfounded. All forecasts are based on macroeconomic stability," Chairman of the Central Bank of Azerbaijan Elman Rustamov said at the press conference, Report informs.

"There was a surplus in the balance of payment last year. SOFAZ assets rose by $3 billion. We have plenty of resources to ensure macroeconomic stability in 2019. The year 2019 is similar to 2018 in terms of macroeconomic situation. Fiscal rules have been in place for two years. $6.8 billion will be transferred to Azerbaijan’s currency market this year. The impact of oil price has been limited dramatically. The main policy was built on low inflation and ideology of sustainable exchange rate," he said.