BAKU: The projected balance of payments by the end of 2024 is expected to amount to $7 billion, chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said, Trend reports.

“Meanwhile, in 2025, it will amount to about $6.5 billion,” he said.

To note, the IMF expects that Azerbaijan’s balance of payments in 2024 will amount to 8.5 percent of GDP, and in 2025 it will be 8.1 percent of GDP, while the WB forecasts 7.9 percent of GDP in 2024 and 6.5 percent in 2025, whereas S and P Global Ratings expects 11.18 percent in 2024.

CBA lowered the refinancing rate from 7.5 to 7.25 percent on May 1. The upper limit of the interest rate corridor was reduced from 8.5 percent to 8.25 percent, while the lower limit was kept unchanged at 6.25 percent.

Source: Trend News Agency