Elman Rustamov: We`ve managed to withdraw some unstable banks from system


June 18, Fineko/abc.az. We were able to maintain the macroeconomic stability and the inflation rate is about 3%.

ABC.AZ reports that Elman Rustamov, the chairman of the Central Bank of Azerbaijan, stated about this at a meeting in the form of a videoconference between President Ilham Aliyev and the newly appointed WB Vice-President for Europe & Central Asia Anna Bayerde, Regional Director for the South Caucasus Sebastian Molineus and other WB representatives.

He noted that the exchange rate of the national currency is stable, there is no pressure upon the exchange rate: "According to forecasts, there will be a slight recession by the end of this year. However, the situation in the financial sector is very stable, and we have also managed to withdraw some unstable banks from the system."