Baku: Azerbaijan’s Central Bank Chairman, Taleh Kazimov, has confirmed the country’s commitment to maintaining a stable exchange rate for the manat in the coming years. Speaking during a discussion on the “State Budget of the Republic of Azerbaijan for 2025” draft law at a meeting of the Milli Majlis Committee for Economic Policy, Industries, and Enterprising, Kazimov emphasized the importance of a stable exchange rate regime for macroeconomic stability.

According to Azeri-Press News Agency, Kazimov stated, “The primary mandate of the Central Bank is to ensure macroeconomic stability. To achieve this goal, we will choose any regime that is suitable. Today, together with the government, we believe that a stable exchange rate regime is the most favorable for ensuring macroeconomic stability.” Kazimov further clarified that there are no plans to switch to a floating exchange rate in the next year or the following year.

He elaborated that the manat/dollar exchange rate is projected to remain at 1.7 in the budge
t and medium-term expenditures for this year and the coming years. This stable exchange rate regime is seen as favorable for ensuring macroeconomic stability in the medium term.