Azerbaijan, Baku, Nov.2 / Trend, N. Ismayilova /
The IMF forecasts roughly one-percent growth in oil production in Azerbaijan in 2012, IMF Economist for the Middle East and Central Asia Asghar Shahmoradi said at the press conference in Baku.
"The growth of non-oil GDP will increase in 2012 by 6 percent compared to 9 percent in 2011," he said.
He said core inflation in the Caucasus and Central Asia would increase amid higher world food prices.
"The region's countries will have to tighten monetary and credit policy if inflationary pressures continue to intensify," he said.
He said the growth of non-business loans has been observed in some countries in the region, particularly in Kazakhstan.
"There is no such problem in Azerbaijan," Shahmoradi said.