Elman Rustamov: “We expect deficit in balance of payments”

Central Bank of Azerbaijan (CBA) expects the balance of payments (BOP) to have a deficit of 3% of the Gross Domestic Product (GDP), CBA Chairman Elman Rustamov said at the press conference.

“We are expecting a decline in both import and export this year,” he said.

Rustamov also commented on the reports about limitations on currency flow from the country: “The CBA has recommended banks to prefer the support of import of goods attaching social importance such as medical supplies and foods. However, there is no instruction to prevent currency flow. Imagine, somebody brings jewelry. Of course, this is less important than medicine and meat.”