Azerbaijan, Baku, Jan. 22. / Trend N. Ismayilova /
The European Reconstruction and Development Bank (ERDB) will present its annual report on countries in the transition to a market economy in Central and Eastern Europe.
The bank's chief economist for Azerbaijan, Anita Taci, will announce the data of the report.
In 2008, the Azerbaijani economy growth hit 10.8 percent. As of 2009 this index is expected to be at a five-percent ratio and at a 7.1-percent ratio in 2010
Improving global economic prospects and rising oil prices and exports are main factors in the development observed in Azerbaijan. However, the financial crisis once again highlighted the need to diversify the economy
According to the EBRD, the growth rate is expected to increase in Azerbaijan, Uzbekistan, Mongolia and Turkmenistan in 2010
Based on the EBRD forecasts, it is also expected to increase production, which will lead to an average index growth to 2.5 percent in the region in 2010
In 2010, the long-term average growth rate in the countries where the EBRD operates will be less compared to past ten years due tothe global economic crisis, the EBRD Chief Economist Erik Berglie said.
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