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Elman Rustamov: Current oil price exceeds Central Bank`s forecast

01.08.2019,16:55


August 1, Fineko/abc.az. At the Cabinet Ministers’ meeting, held yesterday and presided by Azerbaijani head Ilham Aliyev, Central Bank’s chairman Elman Rustamov emphasized that the current oil price exceeds Azerbaijan's internal forecasts by $6.

Rustamov stressed that the price of oil has increased from the beginning of the year up to 20% and is now $66. This is by $6 more than our internal forecasts, that is, budget and socio-economic forecasts. In recent years, our strategic foreign exchange reserves have increased much, and we are confidently going to restore the level of the pre-crisis period.

This means both high international solvency of Azerbaijan and its high financial security.