WB ready to determine actual value of manat
The World Bank has published conditions for determining the actual value of the Azerbaijani currency.
WB chief economist for Europe and Central Asia, Hans Timmer, said that if necessary conditions are created, the national currency will be able to find its real value on the basis of the ratio of supply and demand in the market.
"The stable exchange rate can hardly be always a sign of successful economy, so it is needed to have flexible exchange rate of national currency for reaction to any economic shock,” abc.az cited Timmer as saying.
He also pointed out that the process of price balancing is ongoing in Azerbaijan currently.
"In 2016, inflation in Azerbaijan will be at two-digit level. The situation will not be such exciting in 2017-2018, as inflation was caused by a sharp growth of import prices," Timmer stressed.