According to outlook, oil production in Azerbaijan will stabilize
IMF forecasts current operation accounts surplus will decline in oil-exporting countries, including Azerbaijan. In this case, it’s recommended to conduct variable exchange rate policy in the regional countries.
Moreover, IMF calculates that oil price is at the level of $90 a barrel for Azerbaijan to keep budget as balanced. Remind that state budget of current year and 2014 was formed in accordance with the $100-base price.
In addition, the outlook says the lending, including consumer lending accelerated in Azerbaijan and the regulator must strengthen the supervision.
IMF recommends regional countries to take several measures. These measures include strengthening structural reforms, budget systems, increase of effectiveness of cash-loan system, stimulation of financial sector development.
Generally, according to IMF forecasts, the economic growth in Azerbaijan will make 5.6% in 2014, 3.5% - this year. For comparison to note that in accordance with the forecast of the government, the economic growth in Azerbaijan will make 5.2% in 2014, 4.5% - this year. Note that e economic growth during 9 months made 5.4%.
Moreover, IMF forecasts say the inflation in Azerbaijan will be 6.3% in 2014, 3.7% - this year. Government forecasts these indices as 3.5% and 3.3%.
Note that the inflation in Azerbaijan made 2.3% during 9 months.
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