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IMF concerned in inflation prevention measures

Business Materials 15 April 2006 14:47 (UTC +04:00)

Alongside the increase of Azerbaijans revenues, investment expenses in state budget will be rising as well, said minister of economic development Geydar Babayev at the meeting with IMF mission headed by Vitaly Kramarenko, head of Central Asia and Middle East Department. The evidence to this are the figures of the year 2006, showing governmental investments amount AZN 611mln in state budget 06, while constituting AZN 164mln in state budget 05.

Trend reports with reference to the Ministrys news release that, apart from governmental investment expenses, the topic of the meeting was also macroeconomic processes and expected results for the year 2006, as well as the measures taken by the government to prevent inflation and issues of adjusting budgetary forecasts for this year. The Minister said eh government and National bank are taking some steps to keep inflation rates under control. Mr Babayev also stated the necessity in modernization of municipal tariffs account system and informed IMF experts of the work performed in this sphere.

IMF is also concerned in the process of Azerbaijans joining the WTO. Experts have been informed of the countrys position demonstrated at the conversations held in Geneva on March 26 through 31, 2006 between the workgroup and authorities from the USA, Canada, Turkey, Japan and EC.

Opinions were also exchanged on the issue of privatization of two state-owned banks, International Bank and Kapitalbank.

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