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Asian Development Bank is concerned over weakening of economic growth rate in Azerbaijan

Asian Development Bank is concerned over weakening of economic growth rate in Azerbaijan

09 December 2011 11:54 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Asian Development Bank is concerned over decrease of economic growth rate and sharply decrease of this growth in Azerbaijan, said the economist of Bankâ€™s permanent representation in Azerbaijan Nail Valiyev.

According to him, as it is known, sharply decrease of economic growth in 2011 is related to decrease of oil extraction. At present, the bank analyses the condition and intends to hold discussions with the government on macroeconomic forecasts, with BP on oil extraction to forecast the condition in 2012.

At the same time, Valiyev noted that, ADB agrees with IMFâ€™s opinions on development of non-oil sector in Azerbaijan, importance of high growth rate for economy.

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