Bank Of Baku

Strategic reserves of Azerbaijan - sufficient to cover 3-year import

Strategic reserves of Azerbaijan - sufficient to cover 3-year import
# 09 August 2012 13:39 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Since the beginning of the year, the total strategic currency reserves of Azerbaijan rose 9% to $ 44 billion, the volume is sufficient to cover the three-yearly imports of goods and services, it was stated in a review of the monetary policy of the CBA, APA reports.

Foreign exchange reserves of the Central Bank grew by 5% to $ 11 billion, enough to cover nine months of imports of goods and services. Value for strategic foreign reserves to GDP is equal to about 65%.

’In general, the rapid growth of strategic currency reserves of Azerbaijan is a factor that reduces the susceptibility to the effects of economic crisis’.
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