Presidential assistant: Stabilization is observed on currency market

Baku, June 22, AZERTAC

“Stabilization is observed on the currency market,” Natiq Amirov, the Azerbaijani presidential assistant on economic reforms said.

He made the remarks during “Social business – a way for development” conference.

“Oil price decline, negative impact of global financial processes on banking sector and foreign investments in the country, devaluation of national currencies of trade partners made manat devaluation a necessity. As a result of measures, manat is preserving its fundamental value,” Amirov said.

“Drop in oil prices, devaluation of the national currencies of Azerbaijan and its major trade partners as well as other economic, and global political processes have had their impact on Azerbaijan. Economic reforms implemented in the country as well as measures taken to ensure the development of the non-oil industry have minimized the negative impact,” he said.

Amirov said the national currency would gradually get its fundamental value.

“Purposeful measures taken on the monetary market of the country have considerably stabilized the national currency,” he added.

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