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IMF: â€œAzerbaijan has to extend anticorruption measuresâ€

IMF: â€œAzerbaijan has to extend anticorruption measuresâ€

19 January 2012 16:36 (UTC +04:00)

He appreciated the countryâ€™s economy: â€œGenerally, Azerbaijan left the global financial crisis successfully. Economic growth as well development in non-oil sector was observed in the country. These processes have already been observed in Azerbaijan about 8-9 years. Our expectations consist of 5-5.5% increase of Azerbaijanâ€™s non-oil sectorâ€.

Generally, IMF expects Azerbaijanâ€™s economic growth to be 3.7% in 2012.

IMFâ€™s forecasts consist of two scenarios. In the first scenario, oil prices are expected to be about $100. Crisis scenario explains that oil prices can be decreased to $ 50.

Ilahi noted that, Azerbaijan had to decrease the dependence on oil and develop the non-oil sector of economy.

He also noted that, Azerbaijan had to extend the anticorruption measures.

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