Azerbaijan, Baku / corr Trend I.Khalilova / The economic growth in the member-countries of the Commonwealth of Independent States (CIS) and Mongolia is predicted at 7.8% in 2007 and 7% in 2008 given the high oil and gas prices, the European Bank for Reconstruction and Development (EBRD) said on 8 November. This figure was 7.5% in 2006.
Growth rate in Russia will attain 7.2%, whereas in 2008 it will decrease to 6.5% compared to 6.1% in 2006). The figure is expected to comprise 6.8% and 6% in Ukraine respectively. The highest increase rate is expecting in Azerbaijan among other countries of the region, beating the record at 30% in 2007 and 25% in 2008.
The EBRD forecasts stabilization of growth rate of average inflation ratio and its decrease in 2008. However, the inflation will increase from 8.3% in Azerbaijan in 2006 to 16% in 2007. The level of inflation will be the main problem of macroeconomic perspectives in Russia and Ukraine, the report says.