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Inflation rate forecasted 16 % in Azerbaijan this year

Inflation rate forecasted 16 % in Azerbaijan this year

17 January 2009 10:03 (UTC +04:00)

Baku. Elnur Huseynguluyevâ€“APA-Economics. An inflation rate in Azerbaijan is expected to be 16% this year, said Chairman of the National Bank Board of Governors Elman Rustamov at the Cabinet meeting on socio-economic results of 2008 presided by President Ilham Aliyev, APA-Economics reports. Rustamov said according to the statistics, it was real to reach simple rate of inflation this year. â€œInflation is 16%, which enables us to have optimistic view on the results of inflation this yearâ€.
Rustamov said national currency course was stable in respect of foreign currencies last year and AZN value strengthened for 5 percent in respect of USD and 9 percent in respect of euro. Rustamov said budget surplus increased twice last year in comparison with 2007 and reached 18 billion dollars for preliminary evaluation.

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