Fitch: Azerbaijan still depends on commodity prices

It’s positive that non-oil sector restored after devaluation of Azerbaijani manat in 2015. In terms of this, tourism sector has better growth rate, Fitch Director for sovereign funds in Europe Marina Stefani said at the opening of the annual conference of the organization in Baku.

"Azerbaijan’s foreign buffers are solid. This affects the balance sheet statement. However, there are certain risks in the statement. These risks are linked to both internal and external factors. The country still depends on commodity (oil) prices. Share of oil in export is 90%. For the present, Azerbaijan’s export is stable, but any volatility will affect the export," she said.