Increasing oil price strengthens manat -

29 November 2024

Increasing oil price strengthens manat - EBRD

20:24 10 May 2017 Read: 1786

Increasing oil price strengthens manat - EBRD

In the first quarter of 2017, Azerbaijan’s national currency strengthened due to increase of oil price to $50-55 a barrel, European Bank for Reconstruction and Development said in its Regional Economic Prospects report.

According to the report, the annual inflation increased to 13.2%.

Bank says the lending will remain at lower level due to tight monetary policy, difficulties on manat liquidity, consolidation process in banking sector: “At the same time, Azerbaijan’s currency reserves are at high level ($37.1 billion as at the end of 2016)”.

More about: #Azerbaijan #EBRD

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