Bank Of Baku

CB Chairman Elman Rustamov: “Azerbaijan’s economy will have double-digit development rate during next 10 years”

CB Chairman Elman Rustamov: “Azerbaijan’s economy will have double-digit development rate during next 10 years”
# 23 November 2011 09:42 (UTC +04:00)
According to him, Azerbaijan’s total currency stocks approach $42 bln: “We don’t see any macroeconomic risk for Azerbaijan’ economy in mid-term period. According to our calculations, Azerbaijan will have double-digit development rate – 10-12% growth during next 10 years”.

He noted that, for this purpose, investments are required from abroad.

He also noted that, state budget project for next year was developed at high level: “It has durability. Budget expenses reach 37% of national product and this is the limit of G20. oil base prices is conservative, which IMF forecast makes $102. Social programs are realized and continued. We don’t stop any social program and decrease the rate. Budget expenditures are technical”.
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