Azerbaijan to cut external debt-GDP ratio next year

Azerbaijan to cut external debt-GDP ratio next year
# 27 October 2008 15:02 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Azerbaijan’s ext6ernal debt will account for 5.4% of GDP in 2008 and 5.2% in 2009, said the October 2008 IMF Regional Economic Outlook: Middle East and Central Asia.
IMF predicts oil GDP growth rate to increase to 23.9% in 2009 from 18.8% in 2008.
According to the report, Azerbaijan’s nominal GDP is predicted to grow to $53.3 billion in 2008 and to $68 million in 2009.
It can be inferred from the statistics that the country’s foreign debt will be $2.88 billion in 2008 and $3.54 billion in 2009.
The Regional Economic Outlook (REO) covers 30 countries, divided into three groups for analytical purposes: Oil exporters, low-income countries and emerging markets1. For each of the three groups the REO presents key economic issues, and an assessment of growth prospects as well as policy challenges. In addition, the REO takes a closer look at topical issues related to individual countries or industries in the region.
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THE OPERATION IS BEING PERFORMED