Measures to be taken to strengthen financial stability in Azerbaijan in 2020

Azerbaijan’s Central Bank will take a set of measures to strengthen financial stability, develop financial sector and improve the reach of financial sources for the real sector in 2020, according to a report by Azerbaijan’s Central Bank (CBA).

The report concerns main directions of the monetary and financial stability policy for 2020 and the medium term, Trend reports.

With the application of macroprudential instruments, the financial sector will be protected from systemic risks, and a control system based on best practices will be applied. Stability and development of the financial sector, along with economic growth, will positively affect monetary policy.

The forms and methods of communication, which are the most important tool of monetary policy, will be improved, according to the report.

At the same time, the main factors affecting the growth of economic development, macroeconomic stability including ensuring price stability, will depend on the close coordination of various areas of economic policy, the implementation of important structural and institutional reforms, the report said.