Inflation in AZERBAIJAN in 2008 Will be One-Figure: Expert
Azerbaijan, Baku /corr. Trend U.Ismaylova / The former Chief of the Azerbaijani Cabinet of Ministers' Department of Economy and Financial Credit Policy, Oktay Ahverdiyev, said on 18 September that inflation in Azerbaijan in 2008 will be one-figure.
"If the next agiotage price increase does not take place in 2008, inflation in the country will be 7-8%," Ahverdiyev said.
The Tariff Council of Azerbaijan is regulating prices, particularly for energy resources and communal services.
The Asian Development Bank announced inflation forecasts in Azerbaijan in its report. According to the Bank's report, inflation in Azerbaijan in 2008 is forecasted at the level of 15%.
Speaking of the forecasts for 2007, Ahverdiyev said that inflation for the end of this year will be 17-18% and possibly will increase.
In addition, the Asian Development Bank forecasts inflation at a level of 18% for 2007.
According to data by the State Statistics Committee of Azerbaijan, inflation in Azerbaijan for eight months made up 15.9%.