Expert: Trade surplus in Azerbaijan can fall to zero in 2016

Baku. 18 November. REPORT.AZ/ “Azerbaijan’s trade surplus can fall to zero by year-end”. 

Report informs, economy expert Samir Aliyev said at today's conference “Development of small and medium-sized enterprises in Azerbaijan”.

According to S. Aliyev, Central Bank of Azerbaijan (CBA) cuts cash supply to alleviate consequences of devaluation, which causes shortage of US dollar and manat in market: “CBA’s measures are understandable. Otherwise we could face similar inflation records as in 1990”.

Expert thinks that proportion of banking deposits in manat increased in 9 months of this year: “AZN deposits amounted 52% in 2015, but in 9 months of 2016 the figure is 53%. I think it rather reflects reduction of USD deposits, than growth in AZN deposits”.

S. Aliyev told that many structures in the country have no possibility to attract foreign loans: “Only big companies like SOCAR can get foreign loans. Smaller companies will apply for loan to local banks”.