17:07 - 1.05.2024

---

May 1, Fineko/abc.az. The foreign exchange market is stable. The sharp increase in demand in the foreign exchange market of Azerbaijan, observed at the beginning of the year, has stopped, ABC.AZ reports, quoting CBA chairman Taleh Kazimov.

He noted that growth in demand for foreign currency earlier this year was associated with an increase in State Budget expenditures more than by 28% against the same term of 2023.

"Just over 45% of these expenses are substantial expenses. There was also an increase in advance payments by legal entities. In addition, investments in the economy have increased. At that, unjustified activity among the population arose, which had certain impact on the growth of demand," Kazimov said.

The CBA chairman pointed out that stability is currently observed in the foreign exchange market of Azerbaijan, the situation is the same as in the same period of 2023.