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Moody’s: Azerbaijani economy will still depend on energy resources in next 25 – 30 years

23 May 2019 11:24 (UTC +04:00)

Economical reforms conducted in Azerbaijan can play a positive role in supporting flexibility of an economy and stability of currency market, said Christian Fang, analyst of Moody’s Investors Service at the Moody’s annual conference held in Baku, ONA reports.

According to him, despite this Azerbaijan’s economy will still continue to be depended on energy resources.

“Azerbaijan conducted economical reforms that will support flexibility of economy and stability of currency market. Currently, Azerbaijan is still dependant on energy resources. A similar situation will continue in the next 25 – 30 years”, C.Fang added.

C. Fang also noted that the price of oil that Azerbaijan indicated in its budget is lower that the average price in oil markets and it is a positive tendency.