Samir Nasirov: Balance of payments surplus limits imported inflation

In January-June of this year, Azerbaijan's balance of payments surplus amounted to $5.2 billion as a result of favorable oil and gas prices and the increase in non-oil gas exports, Samir Nasirov, director of the Statistics Department of the Central Bank of Azerbaijan, said at a briefing, Report informs.

According to him, during this period, the balance of payments surplus was 14.5% of GDP:

"The volume of our reserve assets also increased in 6 months. In general, if the balance of payments is in surplus, the country's strategic foreign exchange reserves increase and the foreign exchange balance is balanced. This affects the exchange rate of the manat. In this case, the imported inflation is limited."