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Senior Editor of The Economist: â€œAgriculture and tourism sectors may replace oil sector in Azerbaijan if necessaryâ€

04 September 2008 10:48 (UTC +04:00)

Anna Walker said it was her second visit to Baku and noted that she had visited Azerbaijan to assess political and economic situation two years before. She said that aim of the government conferences held by The Economist was to organize meetings of businessmen and experts with government representatives, lay the foundation of bilateral relations and find answers to the questions interesting the sides.
â€œAzerbaijanâ€™s oil sector is especially developing rapidly. Agriculture and tourism sectors may replace oil sector in future if necessary. The countryâ€™s transport, communication, information technologies sectors also have great potential. The Economist publishes forecasts and reports on economic and political situation in Azerbaijan every month,â€ she said.
Anna Walker said the inflation rate reduced in Azerbaijan and publicized official figures on the inflation rate in the country.
â€œAccording to official statistics, inflation will be 25% in the country this year, the figure is expected to reduce by 18-20% next year and 7% in 2012. But everything depends on the price of oil in the world market. One of the reasons of high inflation rate in the country is higher exchange rate of manat,â€ she said.