BAKU, Azerbaijan, September 16. The average annual inflation rate is expected to decrease to 6.9 percent in 2023, Trend reports citing the Finance Ministry's statement regarding the preliminary indicators of the consolidated and state budgets for 2023.
The country's non-oil sector is projected to account for 78 percent, while the oil sector may constitute 22 percent of GDP.
According to the baseline scenario, the average annual inflation rate will reach 12.5 percent in 2022, 6.9 percent in 2023, and will fall to 3.6 percent in 2026.