Azerbaijan Has No Goal Of Switching To Floating Exchange Rate - CBA Governor
Date
11/18/2024 8:16:18 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 18. Azerbaijan has
no goal of switching to a floating exchange rate, the country's
Central bank (CBA) Governor Taleh Kazimov said during a meeting of
the Parliamentary Committee on Economic Policy, Industries, and
Enterprising on the draft law "On the state budget of Azerbaijan
for 2025" today, Trend reports.
He explained that the CBA is mandated primarily to ensure
macroeconomic stability.
According to him, a Regime suitable for achieving this goal will
be chosen.
"Today, together with the government, we believe that a fixed
exchange rate regime is the most favorable for ensuring
macroeconomic stability.
We do not have the goal of transitioning to a floating exchange
rate in 2025 and the following years. The exchange rate is
projected at 1.7 in budget and medium-term expenditures this year
and in the coming years.
In the medium term, we also consider the fixed exchange rate
regime to be favorable for ensuring macroeconomic stability,” the
official added.
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