Expert Ekrem Hasanov: Entrepreneurs have serious grounds to concern about possible devaluation


March 10, Fineko/abc.az. The population and entrepreneurs have serious reasons for expectation of the next devaluation.

ABC.AZ reports that the relevant statement was made by expert Ekrem Hasanov, when he was commenting on the possibility of another devaluation amid the reduction of oil prices.

According to Hasanov, concerns about devaluation are seen is to look at the figures. Stressing that Azerbaijan's foreign exchange investments approached to $53 billion in 2014, Hasanov said that Azerbaijan lost about $3 billion during that period. For this reason, devaluation can occur. The expert believes that currently, looking at the figures, the Azerbaijani population has fear of possible devaluation of national currency: "But of course, this issue is unclear as this oil price may not be long-term. That is, of course, we all understand that the price of oil is formed not only by economic, but also by geopolitical factors. The processes that started in 2014 were a result of worsening of relationships between Russia and Ukraine. And now other factors have also appeared."

By Elmir Murad