Foreign exchange market controls will be strengthened in Azerbaijan
  • SOCIAL

  • 00:46 12 March 2020

Foreign exchange market controls will be strengthened in Azerbaijan

"The global economic situation is complicated," said Azerbajani Prime Minister Ali Asadov at a meeting of the Cabinet of Ministers on the situation in the global energy market and its impact on the country's economy, APA reports.

Asadov said the situation is being monitored on a daily basis and the current situation in our economy is under control: “The government has the appropriate tools to address the negative impact of recent events on the global economy and, if necessary, these tools will be used expeditiously. The country has sufficient financial resources against the events in the oil market and the global economy. As already noted, our strategic foreign exchange reserves exceed 100% of gross domestic product and exceed six times the foreign debt. In this regard, I urge the business community and the public to show restraint in this situation. At the same time, I would like to state that the control of the foreign exchange market will be strengthened, and illegal actions and abuse of the situation will be prevented.

ONA

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