2024-10-05 06:05:22
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The macroeconomic situation in Azerbaijan shows positive trends.
As Day.Az reported on Tuesday, the General Director of the Central Bank of Azerbaijan said this Shahin Mahmudzade during the presentation of the financial stability report for the first half of 2024.
“The global macroeconomic environment is being formed under the influence of a number of factors, including ongoing geopolitical tensions, expectations of lower interest rates in Europe and the United States, and a slowdown in global growth in prices for goods and raw materials. In the context of weakening global demand, there is an increase in inflation risks, which requires additional attention to issues of stability. Against the background of these external challenges, the internal macroeconomic situation in Azerbaijan continues to grow due to the non-oil sector, and the real effective exchange rate of the national currency remains stable. Increased employment and income of the population also contribute to the strengthening of financial stability. and the growth of strategic foreign exchange reserves create an additional margin of safety,” he noted.
According to him, the country’s authorities pay special attention to improving the well-being of citizens.
“The government and the Central Bank are taking measures to support economic growth through fiscal and monetary policies aimed at ensuring the sustainability of the economy,” Mahmudzadeh added.