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Measures to maintain financial stability should continue – Financial Stability Board

The Financial Stability Board, established to maintain macroeconomic and financial stability in the country at Decree # 995 of President of the Republic of Azerbaijan of 15 July 2016, held a meeting dedicated to results of nine months of 2017 chaired by the Prime Minister, Head of the FSB on October 202017.

The meeting was attended by the members of the FSB – Natig Amirov, Assistant to President of the Republic of Azerbaijan on Economic Reforms, Samir Sharifov, the Minister of Finance, Elman Rustamov, Governor of the Central Bank of Azerbaijan, Rufat Aslanli, Chairman of the Board of Directors of the Financial Markets Supervisory Authority, and Shahmar Movsumov, Executive Director of the State Oil Fund.

 

The FSB Secretariat presented a summary report according to the agenda, which addressed the analysis of macroeconomic processes in the country and the status of the implementation of the Actions Plan on maintaining macroeconomic and financial stability in 2017 and for the medium term adopted by the FSB at the end of 2016.

 

As it was mentioned in the broad meeting dedicated to the results of socio-economic development of nine months of 2017 of the Cabinet of Ministers chaired by President of the Republic of Azerbaijan and upcoming tasks, the national economy exhibited positive growth dynamics and positive trends in macroeconomic stability the nine months.

 

Actions to maintain macroeconomic and financial stability, as well as normalization of the International Bank of Azerbaijan and capitalization of banking system continued.

 

Fiscal Rules, Mid- and Long-term strategy for management of public debt, Program for development of monetary market and macroeconomic stability frame of 2018 prepared in accordance with the Actions Plan on maintaining macroeconomic and financial stability in 2017 and for the medium term were discussed at the meeting.

 

At the end, it was noted that measures to maintain macroeconomic and financial stability in the country should continue.

 

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