Meanwhile, Azerbaijan’s central bank forecasts that the country’s current account surplus will decrease to around 15% of GDP in 2023 from 23.5% in 2022. The surplus had surged by 2.8-fold YoY in 2022. The central bank also maintained its main refinancing rate at 9.0%, while last month’s inflation rate was 8%, down 7.6 pp from its peak in September of the previous year.