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IMF sees 7.5% economic growth for Azerbaijan

IMF sees 7.5% economic growth for Azerbaijan

08 October 2009 15:51 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. Azerbaijan will have economic growth at the yearend despite some slowdown, said Koba Gvenetadze, the IMF outgoing resident representative in Azerbaijan.

According to new forecasts, Azerbaijanâ€™s economy will grow by 7.4% in 2009 and almost by the same rate in 2010.

"We may of course adjust our outlook depending on the world oil market trends,â€ he added.

According to oil price forecast of $65 per barrel, the countryâ€™s non-oil economy is estimated to grow by 4% and oil sector by 11% in 2009, and 5% and 10% respectively in 2010.

Azerbaijan enjoyed 10.8% economic growth in 2008.

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