Central Bank: The current account balance will be in surplus next year as well

A surplus in the current account of the balance of payments is expected in 2023.

“APA-Economics” informs that this was reported by the Central Bank of Azerbaijan (CBA). It was noted that the diversification of the export structure leads to a decrease in the role of the oil price balancing the current account. In 2023, state demand will play an important role in supporting economic activity.

The Central Bank also stated that in 2023, the ratio of state budget expenditures to GDP is expected to exceed 30%: “In the next year, the implementation of the strategy of reducing the non-oil fiscal deficit and indebtedness will ensure long-term fiscal stability by continuing the implementation of the budget rule. is of great importance”.