AzFinance announces its forecast on exchange rate of manat.
According to Deputy Director Murad Ahmadov, share of oil sector in budget receipts is now high.
He says increase of share of non-oil sector may stabilize the exchange rate of manat: ‘If it happens, the exchange rate of dollar will not exceed AZN 2. We can also be dissatisfied with the oil price and this factor must not be forgotten. If oil price changes sharply and currencies of or partners (Russian ruble and Kazakh tenge) depreciate, manat will face serious pressures. It is difficult to make an exact forecast. Moreover, we don’t know how much Central Bank of Azerbaijan will spend to stabilize the exchange rate of manat’.