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ADB: Azerbaijani governmentâ€™s capitals are expected to rise on back of high oil price

19 April 2011 13:54 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Main purpose of Azerbaijani government must be maintenance of macroeconomical stability on the back of increase of oil price in world market and in case of high prices stay at the same level in 2012.

Economist of ADBâ€™s representation in Azerbaijan Nail Valiyev told that growth of oil incomes in 2011 will allow to increase expenses for improvement of social expenses, as well as infrastructure expenses and business atmosphere.

â€œThis year and in 2012, production of energy carriers is forecasted to rise 3-4% in Azerbaijanâ€.

Moreover, main part of investments in non-oil sector will be allocated to social sector, especially to construction sector: â€œAzerbaijani government is expected to invest $4.2 bln to non-oil sector of the country in 2011 and it will allow to develop other spheres of economy. In general, according to Bankâ€™s prognosis, growth rate in non-oil sector of Azerbaijan will make 8% in 2011â€.

At the same time, Valiyev said that productivity was low in agriculture sphere of the country as a result of natural disaster happened in Kura river in 2010: â€œThis year, agriculture sphere of Azerbaijan will develop on the back of good weather and governmentâ€™s supportâ€.