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World Bank: Azerbaijan may see inflation at single-figures

03 February 2009 13:31 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Annual inflation rate is predicted to be at the one-digit level in Azerbaijan this year, said Mrs. Dowsett-Coirolo, the World Bankâ€™s Former Country Director for the South Caucasus.
According to her, due to the world financial crisis, macroeconomic forecasts are constantly changing.
In her words, although Azerbaijan’s macroeconomic performance had been at a high level last year, but the performance was slightly below forecasts in early 2009 becuase of the global financial crisis.
â€œBecause of the financial crisis inflation will slow down in several countries, including Azerbaijan in 2009. Azerbaijan may get inflation at single figures at the end of 2009,â€ she noted.
She added that the post-crisis environment as well as low inflation would ensure competition among several countries.