OREANDA-NEWS. October 08, 2013. Monetary Policy Department of the CBA held an exchange of experience for the delegation of 4 persons from the State Bank of Vietnam to closely acquaint them with the Azerbaijani experience on macroeconomic forecasting.

The delegation was fed with the information on the specifics, the mode of operation and utilized forecasting technique of the Financial Forecasting system, employed in the CBA. The CBA representatives shared their experience on reckoning the nature of the country economy when developing forecasts, inter-sectoral links, the criteria to select simulation scenarios, usage of research findings in improvement of the forecasting technique, and consideration of forecasts when setting monetary policy directions.

The delegation emphasized how useful the Azerbaijani experience is and expressed their intentions to further continue experience sharing.

To note, the macroeconomic forecasting system anchored on the Financial Forecasting system has been practised in the CBA since 2005.