16:29 - 19.01.2026

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January 19, Fineko/abc.az. - (special news) - As you know, serious changes are taking place in the global energy market. Against this background, fluctuations in oil prices are particularly noticeable, which inevitably affects many spheres of the economy.

Economist and expert Ekram Hasanov, commenting for ABC.AZ, noted the impact of the processes taking place in the world on the manat and the economy of Azerbaijan, stressing that country's foreign exchange reserves can decrease only with a sharp drop in oil prices at world markets. The expert explains this by saying that Azerbaijan's main income depends on oil and gas: "Azerbaijan's foreign exchange reserves are formed mainly due to oil and gas. Of course, when prices fall, our oil revenues decrease, which affects the national currency and exchange rate. Against this background, the exchange rate of the manat may rise or devaluation may occur. But this is a long-term process. Azerbaijan has enough foreign exchange reserves, so short-term changes have practically no serious impact."

Developments in the global energy market are also affecting banks: the decline in production and sales in the energy sector creates liquidity problems to a certain extent.

How can this affect the liquidity and credit policy of the country's banks?

Hasanov emphasizes that there is no direct impact on the liquidity of banks, but an indirect impact is possible. He aded that if the changes in the energy market are prolonged, problems may worsen in the country, and customers will not be able to repay loans.

"For this reason, there is currently no liquidity in banks. In other words, these factors do not directly affect the liquidity of banks. Of course, the impact on credit policy is possible, because the situation of entrepreneurs is getting worse every day, and banks have to be extremely careful when giving loans."

By Elmir Muradov