Baku. Musa Ahmadov - APA-Economics. Increase of geopolitical risks in the world, instability in the global energy market, devaluation of national currencies in the partner countries necessitate the preventive measures for mid and long-term period, Minister of Economy and Industry Shahin Mustafayev said during the discussion of 2016 state budget package at the plenary meeting of Azerbaijani Parliament.
According to him, the processes in the world economy increases importance of effective usage of currency reserves, support to business, improvement of business and investment environment.
The minister added that existing risks in the world economy have been analyzed and different scenarios have been prepared for next three years.
Mustafayev noted that Azerbaijan’s economic growth is forecasted to make 1.8% in 2016, 3.7% in next three years.
Inflation is expected at 3.3%.
“Base price of oil in macroeconomic forecasts for 2016 and next three years makes $50”, said.
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