MP: “No serious decline will be observed in exchange rate of manat this year”

MP: “No serious decline will be observed in exchange rate of manat this year”
# 19 February 2015 08:58 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. “Devaluation of manat has both positive and negative points”, MP Vahid Ahmadov told journalists.

“The positive point is that about 92% of Azerbaijan’s export makes oil and oil products. We cannot export non-oil export which has serious problem in base price. Therefore, we can increase export potential of products by reducing exchange rate of manat”, the MP said.

Touching upon negative point of decline of the manat, Ahmadov said that serious devaluation may cause social welfare to be worsened and increase prices in the market: “No serious decline will be observed in exchange rate of manat this year. Manat can decline only about 5-7 kopecks. We’ll try to prevent impact of this decline on social welfare, pensions and deposits".

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