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Chairman of the Central Bank of Azerbaijan: We need a stable home currency

Chairman of the Central Bank of Azerbaijan: We need a stable home currency

21 October 2009 10:14 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. Azerbaijan needs a stable national currency to eliminate the post-crisis after effects, said Elman Rustamov, Chairman of the Central Bank of Azerbaijan.

According to him, the experience of other countries showed that currency devaluation leads only to high inflation and lack of competitiveness in the national economy.

"High inflation causes problems, including in the budget. In such circumstances, we need a stable national currency. Our economy and the manat prove that we are able to keep it", he added.

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