15% Inflation in Azerbaijan in 2008: Expert
Azerbaijan, Baku /corr. Trend U.Ismaylova / The Head of the Center for Economic Research of Azerbaijan, Gubad Ibadoglu, said on 26 September that inflation in Azerbaijan in 2008 will be 12-15%.
According to accounts by the center, the level of inflation in Azerbaijan in January-August 2007 made up 19% and will reach 20% by the end of the year.
On 25 September the Cabinet of Ministers of Azerbaijan discussed the 2008 State budget. The level of inflation for 2008 made up 12%. Inflation in the 2007 State budget was forecast at a level of 9%.
According to Ibadoglu, the increase in the 2008 inflation is explained by high budget expenditures.
The Cabinet of Ministers defined the 2008 budget expenditures at a level of AZN 8bln. After amendments to the 2007 State budget, expenditures were defined at a level of AZN 6314.9mln.