Finance Minister: Depreciation of neighbor countries’ currencies increases impact on manat rate

Baku. 5 November. REPORT.AZ/ Depreciation of currencies of the neighbor countries and trade partners of Azerbaijan increases impact on manat rate, Minister of Finance Samir Sharifov said at the joint meeting of the parliamentary committees on state budget for 2019.

"Despite the fact that certain stability in oil price is supposed to have a positive impact on Azerbaijan, potential negative impacts of the economic recessions in the region on the country’s economy should also be taken into account. Depreciation of the currencies of neighbor countries and trade partners actualizes the reduction in export opportunities and growth risk in import," he said.

According to the minister, prevention of impact of the macroeconomic threats on the country’s economy will be one of the main goals of monetary and fiscal policy to be pursued in 2019.

"Along with this, special emphasis is laid on budget stability, provision of mid-term period durability. Consolidated and state budgets for 2019 and next years will be prepared in accordance with newly-adopted budget rule," the minister added.