According to the CBA’s information, rising global prices on main export commodities increase the probability of two-digit surplus in the country’s balance of payments relative to GDP as of end-2022, which is the key factor to support equilibrium in the foreign exchange market.
“Price hike for main Azerbaijani export products increases the balance of payments surplus, which supports the sustained exchange rate of the national currency as the key price stability anchor, which in its turn drives prices down,” the CBA says.
