Baku, Azerbaijan, April 9
By Azad Hasanli - Trend:
In the next two years, inflation in Azerbaijan will be the lowest among the CIS countries, Trend reports with reference to the updated World Economic Outlook by of the International Monetary Fund (IMF) on April 9.
Thus, in 2019 and 2020, the fund forecasts inflation in Azerbaijan at 2.5 percent. In a previous report released last October, the IMF expected inflation to be 3.3 percent in the country.
Comparative table of inflation expectations in the CIS countries for 2019 and 2020 (in percent):
|
Region |
2019 |
2020 |
|
CIS |
5.6 |
4.6 |
|
CIS (without Russia) |
7.2 |
5.7 |
|
Russia |
4.8 |
4.2 |
|
Azerbaijan |
2.5 |
2.5 |
|
Belarus |
5 |
5 |
|
Georgia |
3 |
3 |
|
Kazakhstan |
5.5 |
4.5 |
|
Kyrgyzstan |
4.7 |
5.1 |
|
Moldova |
5.1 |
5 |
|
Tajikistan |
6.2 |
6.2 |
|
Turkmenistan |
13 |
9 |
|
Ukraine |
7 |
5.6 |
|
Uzbekistan |
15.7 |
10.5 |
|
Armenia |
2.6 |
3.2 |
According to the report, inflation in the Emerging Asia region is expected at 2.9 percent in 2019 and 3.1 percent in 2020, inflation in Developing Europe - 8.3 and 7.4 percent, respectively, in Latin America and the Caribbean region 5.6 and 4.9 percent, in the Middle East, North Africa, Afghanistan and Pakistan 9.1 and 9.3 percent, respectively, and in Tropical Africa 8 and 7.3 percent, respectively.
According to Azerbaijan’s State Statistics Committee, in January-February 2019, prices for consumer goods and tariffs for services in Azerbaijan increased by 1.9 percent compared to the first two months of last year.
This year, the Central Bank of Azerbaijan (CBA) expects inflation at 4 percent (±2 percent).
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Follow the author on Twitter: @AzadHasanli