Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges

Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s economic growth in 2012. IMF also predicts that inflation in 2012 will be at 10.3 percent.  The sharp rise in GDP in Azerbaijan in 2012, according to forecasts by both GoA and the International Monetary Fund (IMF), is unfeasible to explain. This was stated in an interview with chairman of the Center for Economic and Social Development Vugar Bayramov. According to him, in a previous report developed by the IMF, GDP growth in Azerbaijan in 2012 projected at 2.5% since GoA projected at only 4,0 % growth…Download Full Article Here

 

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