16:48 - 22.11.2018

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November 22, Fineko/abc.az. Fitch Ratings has assessed the economy of Azerbaijan.

The rating agency informs that country’s GDP growth for the first 9 months made up 0.8%, growth of the non-oil sector reached 1%, and inflation 2.4%.

"State Oil Fund of Azerbaijan’s assets increased up to $39 bn, the Central Bank reduced the accounting rate to 9.75% amid the impact of high oil prices on the balance of payments. The level of dollarization in the banking sector is gradually declining, but still remains high, that limits the effectiveness of monetary policy. The stable exchange rate of the national currency indicates that country’s authorities are not committed to free floating exchange rate," the agency reports.

In July Fitch Ratings affirmed Azerbaijan’s sovereign rating BB +/Stable.