CBA: Current account balance may have surplus of 23-25% of GDP

This year, the foreign currency reserves of the Central Bank of Azerbaijan (CBA) increased by $297 million net due to purchases to support the balance in the foreign exchange market, Report informs, citing the CBA's statement.

"Taking into account the low demand in the foreign exchange market during the last period of the year, it is predicted that the CBA will fully restore foreign currency reserves to the extent of sold funds in the next two months. In addition, it is predicted that by the end of 2022, the balance of payments will have a surplus in the range of 23-25% of GDP.