OREANDA-NEWS. September 07, 2009. Elman Rustamov, CEO of CBA reported that  stability of national currency was reserved  over period of crisis  phenomena in the world economics , but the real effective exchange rate reduced slightly to retain external competitiveness of the country’s economics.

“Despite the serious fall in world prices for base export raw material of the country (oil), on 1 September 2009, current balance of payment account was surplus. In addition, non- oil export demonstrates 37-40-percent growth. It creates conditions  for further expansion of non-oil and total export of the country already in 2010, when the world economics  and trade are expected to be restored,” E.Rustamov said.

Following the results of 7 months the Azerbaijani gross domestic product increased by 2.7% with growth of non-oil sector by 3.6% and oil sector by 2.3%.