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.