Azerbaijan’s Economy Shows Positive Signs of Growth, Says Central Bank Director
The Director General of the Central Bank of Azerbaijan (CBA), Shahin Mahmudzade, presented the financial stability report for the first half of 2024, highlighting the country’s improving macroeconomic situation. Despite global challenges such as geopolitical tensions and slowing global demand, Azerbaijan’s economy is on the rise.
The non-oil sector is driving growth, while the national currency remains stable. Increased employment and income levels are strengthening financial resilience. A favorable balance of trade and strategic currency reserves are contributing to overall stability.
Mahmudov emphasized the government’s commitment to enhancing citizens’ welfare through various fiscal and monetary policies aimed at ensuring economic stability.
Overall, Azerbaijan’s positive macroeconomic trends are a testament to the government and CBA’s efforts to support economic growth and stability in the country.
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