The European Bank for Reconstruction and Development (EBRD) has forecast a 2% growth of Azerbaijan’s economy in 2018, according to the EBRD’s updated Regional Economic Prospects report.
The bank forecasts Azerbaijan’s economy to contract by 0.5% in 2017, according to the report.
After a brief period of volatility in the beginning of 2017, the Azerbaijani manat-US dollar exchange rate has stabilized, said the report.
However, Azerbaijan’s liquidity buffers remain sizeable, with reserves of $37.1 billion at end-2016, according to the report. (Trend/Business World Magazine)