Baku - APA-Economics. Azerbaijani government must take several measures to prevent fiscal deterioration, APA-Economics reports citing to WB Global Economic Prospects 2016.
According to the bank, Azerbaijan, Kazakhstan, and Russia are still affected by low oil prices.
“Even countries with a large currency reserves like Azerbaijan may face pressure on fiscal consolidation. Azerbaijani government must take several measures to prevent fiscal deterioration. Pressures on national currency, increase of troubled loans, high inflation rates made oil exporting countries stiffen monetary policies. We are talking about Russia, Azerbaijan and Kazakhstan. Reserves if these countries will reduce for a certain time, national currencies will remain under pressure”, the bank reported.
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