13:28 - 30.12.2022

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December 30, Fineko/abc.az. The impact of the new global economic realities on the country's economy was not one-sided. On the one hand, high global commodity prices and growing problems in transport and logistics lines have also increased inflationary pressure in Azerbaijan. On the other hand, the rise in prices for Azerbaijan's main export goods had positive impact on the country's balance of payments, the balance in the foreign exchange market and economic activity.

ABC.AZ reports with reference to CBA’s statement on the main directions of monetary policy for 2023 during the reporting period, the large-scale surplus of the balance of payments positively affected the equilibrium in the foreign exchange market, which supported the main anchor of price stability - the stability of the exchange rate.

Over the past 11 months of 2022 the total non-oil trade weighted nominal effective exchange rate of the manat grew by 7.9%, which had the limiting effect on inflation.

The analysis shows that a 10% rise in the nominal effective exchange rate reduces inflation by about 3%.