(Read the full article on turan.az)

The main reason for the growth in demand for foreign currency are possibly preparations for the new academic year, according to economist Natig Jafarli’s interview with TURAN.

To his thinking, in July-August, the demand for the currency will grow.

“Within the framework of preparations for the school year, new agreements have been signed on the import of school supplies and various goods necessary for school teaching. New contracts require currency for new purchases. Some entrepreneurs have already started preparing for this, since practically nothing of school supplies is produced in Azerbaijan. School uniforms are produced in very small quantities, ” he said.

He noted that about one and a half million students will attend educational institutions in the new academic year, so the demand for such a number of students should be met.

In his view, another reason for the growth in demand for the currency is a desire to spend a summer vacation in other countries.

“Despite the pandemic, closure of land borders and high prices for air tickets, citizens want to spend their holidays in Georgia, Turkey and other countries. It is no mere coincidence that AZAL and Buta airlines have doubled the number of their flights to Georgia and about 3 times to Turkey,” he said.