Inflation In Türkiye Won't Have Significant Negative Effects On Azerbaijan's Financial System - Finance Minister (Exclusive)
Date
6/27/2023 3:01:56 AM
(MENAFN- trend news agency) baku, azerbaijan, june 27. no significant
negative effects on azerbaijan's financial system are expected from
inflation in türkiye, the country's finance minister samir sharifov
exclusively told trend.
"our financial system is in a fairly balanced state, and the
banking system is reliable. the country has significant reserves
and very low debt. therefore, we do not anticipate any significant
negative effects," added the minister.
inflation in türkiye stood at 39.59 percent in may. in order to
contain inflation, the country's central bank made the decision to
raise the key interest rate from 8.5 percent to 15 percent
annually. following this announcement, the turkish lira, for the
first time in history, surpassed the 24 lira per dollar mark and
continued to weaken. the turkish regulator intends to pursue this
policy until a significant improvement in the inflation forecast is
achieved.
further, in response to a question about the possibility of
reviewing the oil price set in azerbaijan's state budget, samir
sharifov pointed out that the average export price per barrel of
oil, incorporated into azerbaijan's budget, maintains a reasonable
level.
he highlighted that the oil price in the budget for the
remaining period of the year has been adjusted from $50 to $60.
"we do not anticipate further increases in the oil price, as the
current level is already adequately high. we consider it to be
reasonable," the minister explained.
amendments to the "state budget of the republic of azerbaijan
for 2023" law indicate projected revenues of 33.89 billion manats
and expenditures of 36.62 billion manats (including centralized
revenues of 33.12 billion manats, local revenues of 764.7 million
manats, centralized expenditures of 35.85 billion manats, and local
expenditures of 777 million manats).
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