Bank Of Baku

IMF recommends fiscal consolidation for Caucasus and Central Asia countries

IMF recommends fiscal consolidation for Caucasus and Central Asia countries
# 09 December 2010 15:25 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. International Monetary Fund called the countries of Caucasus and Central Asia to conduct fiscal consolidation, said IMF’s economist on Near East and Central Asia Niklas Vestelius.

According to him, the fiscal consolidation must be mainly conducted by the countries exporting oil-gas and generally, some countries have started this process in the region.

He also noted that, the current account deficit is still remaining in CCA region and financial sources must be searched for elimination of this.

He also noted that, although, region left the crisis behind, there are problem credits here.
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