12:44 - 12.06.2023

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June 12, Fineko/abc.az. The Central Bank's forecasts are based on annual inflation. It is normal that the forecasts of the Ministry of Economy and our forecasts do not coincide.

ABC.AZ reports that Central Bank’s chairman Taleh Kazimov stated about this at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry & Entrepreneurship.

CBA chairman said that from this year the CBA will already begin to actively forecast GDP, banking and economic indicators:

"We’ll do this 4 times a year and inform the public about it. This is international practice. Forecasts are changing because Azerbaijan's economy is part of the world economy. The global economy is also changing, and therefore we’ll already make quarterly forecasts. It is normal that CBA’s forecasts do not coincide with the forecasts of the government. The Central Bank is an independent institution. Not all forecasts should match. Our main goal is to forecast inflation."