Baku. Yegane Lachinzade - APA-Economics. Oil exporting countries in the Commonwealth of Independent States (CIS) will continue to be affected by oil price movements, Moody’s reports.
According to Agency, the manat devaluation on February 21 is reducing impact of anxiety over oil price decline. As a result of weak exchange rate, affect of low oil prices on state finance reduced and Azerbaijan’s non-oil products has become more competitiveness in the international arena.
“All the same, we forecast the inflation to go up 9% in 2015, stabilize at 7% in 2016. High inflation will lead to reduction of purchasing level of household appliances, private consumption and real economic growth rate. We predict the economic growth in Azerbaijan will increase 1% in 2015, 1.7% in 2016”, Agency said.
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