Central Bank: Liberalization of currency regime to help improve business environment in Azerbaijan


February 20, Fineko/abc.az. The Central Bank’s Board has endorsed the changes to the Rules for Azerbaijani residents’ transactions in foreign currency and non-residents’ transactions in national and foreign currency.

ABC.AZ was informed at the Central Bank that in the decision was made with taking into account the improvements in the country's balance of payments indicators observed in the last few years, the positive results of reforms in the direction of strengthening customs control and currency control in general.

For example, the ratio of the current account surplus to GDP is currently measured in double digits.

Along with current operations, Azerbaijan has recorded a significant improvement in recent years both due to capital flows and financing. The liberalization of the currency regime will also help improve further the business environment for entrepreneurship in the country.

By Elmir Murad