In 2023, the Central Bank of Azerbaijan did not change the annual inflation forecast.

"APA-Economics" informs that this was mentioned in the Central Bank's decision on monetary policy.

He said that although the dynamics of inflation decrease from the peak is observed in the domestic market, there are still uncertainties regarding the expected change of supply and demand factors and the behavior of economic entities.

"In the conditions of a stimulating fiscal policy and an increase in the country's foreign currency inflows, aggregate demand is expanding and economic growth in the non-oil sector remains high. The 4th social reform package implemented since the beginning of this year and the continuation of credit activity support consumption, which is the main component of aggregate demand" - CBA noted.

It was emphasized that the annual growth of the loan portfolio of banks and non-bank credit organizations remains high, even if it slows down a bit, and amounted to 15.7% in February of the current year.

Since the beginning of the year, the decision to change the prices of some services (products), whose prices (tariffs) are regulated by the state, may affect inflation expectations: The forecast of annual inflation around 8% remains unchanged.