International Monetary Fund to improve forecasts on development prospects of Azerbaijani economy
Azerbaijan, Baku, Oct. 9 /Trend J.Nasibova/
International Monetary Fund (IMF) has forecasted increase of gross domestic product (GDP) according totals of 2012 in its October report on development prospects of world economy.
IMF forecasts growth of GDP volume in Azerbaijan by 3.9 percent according the totals of this year, which is 0.4 percent more than in comparison with July forecasts. According to forecasts for 2013, the growth of GDP is expected at 2.7 percent.
According to IMF forecast, inflation in Azerbaijan will be at 3 percent in 2012, while previously, the fund has forecasted inflation at 5-6 percent . IMF has forecasted inflation at 6 percent in the republic in 2013.
According to fund's estimations, Azerbaijan will have balance of payment surplus at 20.4 percent of GDP in 2012 and at 16.1 percent in 2013.