Central Bank participates at Hıgh Level Forum

06-03-2019

6 March 2019, Baku: The Central Bank participated at the High Level Forum titled ‘Diversification of economy – role of private sector’ co-organized by the World Bank and the Ministry of Economy.

Presentations on macro aspects of non-oil growth (macroeconomic view, current situation and analyses), the policy related to wider private sector engagement ("Doing Business" report, cooperation between the IFC and public authorities), combating shadow economy were delivered at the Forum dedicated to achieving sustainable results on diversification of the non-oil sector, followed by panel discussions with the participation of high-level representatives of the Azerbaijani Government, members of private sector and international organizations, and World Bank experts.

Making a speech at panel discussions on increasing the role of the private sector Mr Elman Rustamov, Governor of the Central Bank of the Republic of Azerbaijan highlighted long-term cooperation with the WB and said that the WB has been making important contributions to successful economic reforms, in particular, to infrastructure building, agricultural development and improvement of administrative management for over 25 years.

Touching upon the role of macroeconomic stability in sustainable economic growth, recent trends in the overall macroeconomic policy, in particular, reforms in the monetary policy, he noted that efforts of about 25 years in Azerbaijan in state and economic building, created national capacity allow to say that the country will react decently to challenges of the new strategic period under the leadership of Honorable President Ilham Aliyev.

Ms Kamala Gurbanova, Director of the Payment Systems and Settlements Department of the Central Bank made a presentation titled ‘Increasing digital payments and way to cashless society’ at the event too.