Central Bank of Azerbaijan sums up results of 2010

Over the past 10 years the Azerbaijani economy has grown fourfold,
with export volumes about 15 times larger and foreign exchange
reserves 31 times as big, the Chairman of the Central Bank of
Azerbaijan (CBA), Elman Rustamov, said in his speech to an enlarged
meeting of the Board of the CBA on the results of 2010, Trend reports.

According to him, such a successful development has been achieved due
to macroeconomic stability, with average annual inflation remaining at
seven percent and the average annual exchange rate of the national
currency, the manat, fluctuating within one percent. In this
situation, the main indicators of the financial sector grew 15-20
times.

The priorities of the Central Bank for 2011 are modernization of the
payment system and enhanced integration of the CBA in implementation
of all programs provided under the concept of “electronic government”.