Baku, Azerbaijan, Oct. 10
By Azad Hasanli – Trend:
The inflation rate is projected at 8 percent in Azerbaijan this year, according to the October 2017 World Economic Outlook “Seeking sustainable growth - Short-term recovery, long-term challenges”.
According to the report, the inflation rate will reach 7.5 percent in the country in 2018.
Earlier, Elman Rustamov, chairman of the Central Bank of Azerbaijan (CBA), said that the country’s government expects inflation to be close to a single-digit level this year.
“If no surge in prices happens till late 2017, we hope that inflation will be close to a single-digit figure,” he said. “We see no fundamental internal factors for inflation growth.”
The Azerbaijani Economy Ministry expects the inflation rate will reach about 7.3 percent this year.
The IMF office was opened in Baku in 1992. In 1995-2005, the Fund allocated loans worth $577.3 million to Azerbaijan. Azerbaijan fully repaid the loans.
There has been no need for Azerbaijan to apply to the IMF for financial resources since 2005. Therefore, since 2006, the IMF and Azerbaijan have cooperated within the framework of consultations and technical assistance missions in main areas of macroeconomic policy.