Al Marzouqi noted that the non-oil sector is expected to grow 3.5% in 2015: “We observed 6.5% growth in the non-oil sector from January 1 to April. Therefore, we forecast that the economy will grow 1.8%”.
As for inflation, Al Marzouqi said that 8.5%-growth is expected this year. According to him, the inflation will make 6.6% next year: “We thought the inflation would be at two-digit. However, the demand declined due to devaluation, provision of crediting in economy reduced. After devaluation of manat, measures taken by state prevented sharp price rise. However, we expect price rise as at the year-end”.
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