Improving the efficiency of currency rate management from the Central Bank of Azerbaijan (CBA) and improving coordination with monetary policy will lead to an increase in stability in the foreign exchange market of Azerbaijan. This is stated in the report of Moody’s Investors Service (Moody’s) on Azerbaijan.
The report emphasizes that, despite the negative impact of the COVID-19 pandemic, the assets of the SUFAR continued to grow and their enough to repay 480% of direct public debt.
Taking into account the fact that the cost of oil will be within 45-65 dollars, it is expected that if a sharp increase in the NFFAR transfers to the budget occurs, the assets of the Fund will grow over the next few years.
Recall that as of January 1, 2021, NFAR assets amounted to 43,564.3 million dollars (annual growth amounted to 0.56%).