BAKU, Azerbaijan, February 13. The S&P
Global Ratings agency upgraded the outlook for the rating of
Azerbaijan's PASHA Bank from 'stable' to 'positive', Chief
Financial Officer (CFO) of PASHA Bank, Murad Suleymanov, said at an
event dedicated to the bank's Initial Public Offering (IPO),
Trend reports.
According to him, Moody's and Fitch Ratings also positively
assessed the ratings of Azerbaijan and PASHA Bank.
Suleymanov emphasized that Azerbaijan maintains a stable
economic and political environment.
"We see this through sustainable economic growth in the range of
2.5-4%. The share of the non-oil sector in the GDP structure is
increasing, and this trend has been going on for many years.
In addition, inflation is within the monetary policy of the
Central Bank," he noted.
