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Azerbaijan predicts at least 18% economic growth rate for 2009

30 August 2008 13:11 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA. Azerbaijanâ€™s Ministry of Economic Development has submitted macroeconomic predictions to the government for the 2009 state budget blueprint, said Sevinj Hasanova, the Deputy Minister of Economic Development.
According to her, the macroeconomic predictions for 2009-2012 were made in pessimist, medium and optimist scenarios depending on the oil prices.
She said GDP growth rate is expected to be at least 18% next year.
â€œIn the pessimistic forecast, oil prices are considered at the declining level to $70 per barrel until 2012 and $80 for next year. The medium scenario envisages oil prices at $100 for 2009-2012 and optimistic projection takes oil prices at $125,â€ she noted.
According to her, inflation is expected to decline to a single-digit level in the medium term.
She added that the private sector is expected to account for 80% and oil sector 55% next year.