EBRD maintains Azerbaijani GDP

Business Materials 22 July 2011 16:21 (UTC +04:00)

Azerbaijan, Baku, July 22 / Trend N. Ismayilova /

The European Bank for Reconstruction and Development (EBRD) has kept the GDP growth in Azerbaijan for 2011 at three percent.

According to the bank's forecasts, the inflation level will hit 9.1 percent as of late 2011.

According to the report, Azerbaijan's economic growth remains tempered because of the recent stabilization in the oil and gas volumes.

"Foreign direct investments in non-oil sector remains low," the report said. "However, the risk is reduced by the high level of SOFAZ reserves."