BAKU, Azerbaijan, April 30. Azerbaijan’s net sovereign asset position is expected to increase by 12 percent points from 2021 through 2023 to 80 percent of the GDP, compared to the projected 'BB' median of 8 percent of the GDP, Trend reports, citing the data from Fitch Ratings.
According to the report, this will contribute to further reducing the risk of disorderly devaluation of the actual exchange rate peg.
Meanwhile, Fitch has affirmed Azerbaijan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB+' with a Stable Outlook.
“The Stable Outlook balances the benefit of high energy prices in further boosting Azerbaijan's external and public finances,” Fitch said.