Topic of depreciation of the Russian ruble and, accordingly, possibilities of influence of this process Azerbaijani economy will have to be continued, as the “wooden” fell off just short of 15% for the last 24 hours (as per official rate of Central Bank of Azerbaijan). In this case difference in purchase price of the russian currency in our country and change of equivalent sum from dollars to rubles in Moscow is not for the benefit of the rubles purchase “in place”. It again testifies a neighbor’s ongoing tension, but it should be a good example for us, why in the most unclear situation we should keep calm and get enough sleep.
“Everyone is interested in maintaining authority (and correspondingly, purchase capacity) of manat: both economy and population”
Or, at least, stay in comfort zone. It concerns, as known, dollar, in a less degree euro and manat; moreover, it is the only currency unit, running in the territory of Azerbaijan, so any payments should be implemented in it. It means that everyone is interested in maintaining authority (and correspondingly, purchase capacity) of manat: both economy and population, so that we will not face panic-driven moods. Only if we catch psychological spirit of our neighbors, who, being under the influence of crisis anticipations, for three consecutive days are massively getting rid of falling into disgrace ruble, weakening it with more sharp demand on European and American currency. Nowadays not each Russian analytics is able to give exact assess for economic factors, which played role in depreciation of the ruble, and which – for psychopathic aspects.
Secondly, we should avoid as possible, whereas the first in Azerbaijan obviously are unable. Budget surplus, impressive amount of strategic reserves, sufficient relative share of national production are counted in favor of retaining economic balance on the consumer market. Some discomfort is caused by decline in price of hydrocarbons on global market and by commercial ties with Russia that promises reduction of capital receipt to Azerbaijan for some time – both petrodollar and income of citizens of the country, who work/earn in Russia. Nevertheless, it is highly doubtful that these unpleasant tendencies were turned out to be stronger, and for sure there is no point to wait misbalance earlier than neighbor’s remission period, predicted for February-April 2015, will start. By the way, setback of petrol quotation on global exchange houses is settled approximately for the same period.
“Now petrol extremely fell in price. Did anyone feel it in Azerbaijan? No, and he will not feel, because we have powerful economic abutments. Currency of manat is stable; it let us say that we have economic force, thought-out policy and social policy. Stability of manat, probably, is not so positive for our export potential. But this is a social question. It should be like this only”, — highlighted the president of Azerbaijan Ilham Aliyev during his speech on the opening of General Volunteers Forum ASAN.
“Currency of manat is stable; it let us say that we have economic force, thought-out policy and social policy”
According to head of government, in result of thought-out policy, choosing of proper unidirectional strategy and all-round planning of steps, Azerbaijan is very famous with its successful model around the world.
In order to make sure about that, it is enough to wait two months. Simultaneously, to diversify state risks. Whatever historical, cultural and political threads connected Azerbaijan with Russia, current ruble crisis give rise to correct external economic policy for a good correspondence to national interests.
“We can’t pray for only Russia all the time, though it is our fraternal country”.
However, we do not have any necessity to perform radical changes in it, like, as an example, Belarus has to do, that correctly interpreted proverb “We might be very good friends, but our money is of different brands”. Herein, in spite of quick (from January) entry into force of the agreement on establishment of Eurasian Economic Union (EEU), then there are alternatives to other international markets. President Alexander Lukashenko had to call the government for searching of new distribution areas of Belarusian production. The reason is a Minsk charge with re-export to Russia of European goods, which indirectly concerns Kazakhstan also.
“We can’t pray for only Russia all the time, though it is our fraternal country. Because, you see, this market crumbled, and we flied after it. Well, if once we could sell 85% to the russian market, but today – 40-45%”, — declared Belarusian president during the governmental conference.
Batka is a wise man, he will not advise a bad thing.