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IMF: Azerbaijan’s economic situation recovers

“Azerbaijan’s Gross Domestic Product (GDP) will decline by 1% in 2017”, Director of the International Monetary Fund's (IMF) Middle East and Central Asia Department Jihad Azour said at the press conference.

According to him, as a result of measures taken by Azerbaijani government in 2015-2016, the economic situation started to recover: “We are already seeing monetary stability. However, the inflation is still in the two-digit level. This must be one-digit. As for monetary policy, Azerbaijan may ensure stability through this. Our mission will visit Azerbaijan in late November. We’ll discuss the situation, budget indicators and forecasts for 2018”.

 

He also noted that the IMF is cooperating with Azerbaijan in two directions: “One of these directions is consultations on economic policy, another one is technical assistance. We provide technical assistance to several state bodies. Currently, there is no appeal for any financial assistance”. 

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