Baku: Optimism is observed in the expectations of economic growth, said the Chairman of the Central Bank, Taleh Kazimov, during the discussion of the draft law “On the 2025 State Budget of the Republic of Azerbaijan” at the meeting of the Economic Policy, Industry and Entrepreneurship Committee of the Parliament held today.

According to Azeri-Press News Agency, he stated that the economic growth forecasts of most of Azerbaijan’s trade partners have increased by the end of the year. Kazimov noted that their analyses show the 12-month inflation indicators were influenced by anti-inflation measures implemented by the Central Bank. The inflation forecast of the Central Bank until the end of 2024 is projected at 5.1 percent, compared to 5.4 percent in July. Considering the reduction in inflationary pressures, the Central Bank has also quantitatively eased its monetary policy, significantly reducing the volume of sterilization operations starting from this year.

Kazimov emphasized that the financial stability po
licy of the Central Bank is targeted at ensuring the stable operation of financial markets. In 2024, access to finance for the population and entrepreneurs was prioritized. According to forecasts, inflation in Azerbaijan is expected to be 5.8 percent in 2025.