Azerbaijan, Baku / corr Trend U.Ismayilova / The ongoing development worldwide mostly impact the change of inflation ratio in the country rather the internal factors, Heydar Babayev, the Azerbaijani Minister for Economic Development, said.
"Increase in the consumer prices is slower, whereas rise in prices of goods supplied by exporter countries promote the consumer prices," the minister said.
According to State Statistics Committee, over 9 months of 2007 the inflation ratio was 16%.
In January to September, Azerbaijan exported goods in the amount of $532mln and imported in the amount of $123.3mln. In this period Azerbaijan carried trade operations with 134 foreign countries. The country exported over 2,200 types of goods and imported over 6,300 type of goods.
The minister said that the Government takes administrative measures to prevent artificial increase of consumer prices in the country.
The International Monetary Fund (IMF) forecasts that the real GDP growth in Azerbaijan in 2008 will total 23.2% against 29.3% in 2007. According to the IMF forecasts, two-figure inflation will take place in 2007 and 2008 in Azerbaijan. In addition, the increase in the consumer prices in 2008 will equal 17% against 16.6% in 2007.
The current payment balance in 2008 in Azerbaijan is expected to total 39.9% in relevant to GDP against 31.4% in 2007.