Posted by: mulrickillion | November 4, 2011

Press Release: Statement at the Conclusion of the IMF’s 2011 Article IV Consultation Mission to Azerbaijan

Press Release No. 11/389
November 2, 2011

An International Monetary Fund mission visited Baku during October 20-November 2, 2011, to conduct Article IV consultation discussions. It met with the Prime Minister, Minister of Finance, Chairman of the Central Bank of Azerbaijan (CBA) and other senior officials, representatives of the private sector, civil society, and the diplomatic community.

At the conclusion of the discussions, the mission chief for Azerbaijan, Mr. Nadeem Ilahi, made the following remarks in Baku today:

“Azerbaijan has experienced rapid economic growth, macroeconomic stability, and significant poverty reduction since the onset of the ongoing oil boom. This year, non-hydrocarbon economic growth is expected at near 9 percent, compared to 7½ percent last year, and could reach 6 percent in 2012, supported by public spending. Oil output dropped sharply in 2011 because of technical problems and hydrocarbon output is expected to remain broadly the same over the next decade, before beginning to decline. Inflation has moderated recently as global food price increases have eased, and is projected at around 8 percent by end 2011. . . .

Press Release: Statement at the Conclusion of the IMF’s 2011 Article IV Consultation Mission to Azerbaijan

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: