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ADB: Demand for import will increase on the background of increase of incomes and strengthening of manat in Azerbaijan

17 April 2013 12:58 (UTC +04:00)

ADB's economics officer in Azerbaijan Nail Valiyev said that it can mainly include investment projects implemented by government and current expenditures financed by state budget and other social expenditures. But low food prices can influence the low prices. So, the inflation was 1.1% in 2012 due to low food process.

“The government will continue its inflation-targeted monetary policy. Transfers of Oil Fund will make significant part of state budget and be directed to financing of government investment projects. Exchange rate if national currency will develop toward growth due to high surplus in the Balance of Payment”.

In 2013, current account/GDP ratio is expected to reduce to 13% and this can mainly occur due to influence of grain, car, household equipments and other consumption goods the import. In 2014, the current account/GDP ratio is forecasted to reach 17% due to a slight increase in oil production. Demand for import may be increased on the background of increase of incomes and strengthening of manat in Azerbaijan.