Samir Sharifov: “Azerbaijan will restore its sovereign rating”

Azerbaijan will gradually regain its sovereign rating, the Minister of Finance Samir Sharifov told reporters today.

“With the stabilization of the economic situation, the growths of export earnings and due to the positive results of the reforms that are being implemented under the supervision of the head of state, our rating will gradually recover”, – said the minister.

According to him, the reduction of the sovereign rating by international rating agencies affected not only Azerbaijan, but also other commodity-exporting countries.

“It is natural. The fall in oil prices and its negative impact on economies, reduction in earnings – all this, of course, led to a downgrade”, – said Sharifov.

The long-term rating in foreign and national currencies, assigned to Azerbaijan by Fitch Ratings, is at the level of BB+, long-term and short-term credit rating in national and foreign currencies from Standard & Poor’s – at the level of BB + / B, the issuer rating from Moody’s- at the level of Ba1.



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