`The key reason behind the drop in manat rate is downing of oil price thrice.`
`Despite continuing political and economic tension in the world, Azerbaijan still develops. But fall in oil prices badly affects on decreasing of state revenues, budget expenditures and the rate of national currency, Azerbaijani President İlham Aliyev told at the ceremony dedicated to sport results of 2015 at the National Olympic Committee.
`Of course, decreasing of oil revenues badly affects on Azerbaijani national currency. The key reason behind the drop in manat rate is downing of oil price thrice. That is, the change in manat rate was inevitable. Over the past year, we tried to prevent it. We are awaiting the stability of the oil price. When the oil price fixed at 50 dollars, we relaxed a little bit thinking there would be no devaluation,” he said.
Change in manat rate was inevitable - ?lham Aliyev
23 December 2015
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