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IMF: Economic growth perspectives are favorable in Azerbaijan for short-term period

20 November 2012 10:17 (UTC +04:00)

Head of IMF mission on Azerbaijan Raja Almarzogi says from November 8 till November 20, the mission met with Azerbaijani state officials and representatives of non-state sector. The purpose of the visit was connected with the preparation for the next discussions on IV Item in February-March 2013.

Almarzogi also noted that the inflation dropped recently, but it can increase in 2013 due to rising of state expenses and global food prices. He thinks that dynamics of risks related to global and regional economic perspectives are inclined to slide, but in connection with geopolitical situations in the world, there can occur risks on oil proposal.

Reducing the non-oil deficit in 2013 on the outcome of 2012 will limit the risks to macroeconomic stability and strengthen the insurance provisions for the conduct of policy in the event of a possible deterioration of the global economy.
Almarzogi stressed that the IMF stands ready to provide technical assistance to Azerbaijan in the management of oil revenues and pension reforms.