WB says average annual inflation will decline to 5% in Azerbaijan
APA Azeri Press Agency

WB says average annual inflation will decline to 5% in Azerbaijan

[ 21 April 2017 11:39 ]

The average annual inflation will decline to 5% in Azerbaijan in 2017 due to limited liquidity on the market, the World Bank (WB) said in its updated "Azerbaijan Partnership Program Snapshot" report.

Average annual inflation in 2016 made up 12.6%.

 

“Azerbaijan’s economy is likely to experience another year of negative growth in 2017 despite the anticipated recovery of oil prices, as oil production is not expected to increase and the non-oil sector continues to be affected by the government’s spending cuts and the banking sector distress. Non-oil sector growth will remain weak, as the government is set to keep a tight stance on both fiscal and monetary policies to safeguard macroeconomic stability. Along with this, fiscal position will improve in 2017–2019”, the report said.