IMF evaluates impact of oil price decline on Azerbaijan’s economy

IMF evaluates impact of oil price decline on Azerbaijan’s economy
# 23 January 2015 09:07 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. In 2015, Azerbaijan may face 40% loss in export and 15% in GDP due to oil price decline.

According to Fund’s experts, $57 a barrel is sufficient for oil exporting countries in the region to manage their balance. According to them, $80 a barrel is acceptable for Azerbaijan. Therefore, IMF expects fiscal deficit to make from 2.3% of GDP to 14.5%.

At the same time, IMF also says that Azerbaijan economic “airbag” exceeds country’s liabilities on external debts by twice ($ 13.8 bln).

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THE OPERATION IS BEING PERFORMED