The International Monetary Fund (IMF) has raised this year’s GDP growth forecast for Azerbaijan to 1.8 percent from 0.6 percent, an IMF official said.
The change of forecast followed a 6.5 percent growth in the country’s non-oil economy in the first four months of 2015 year on year, said Raja Almarzoqi, head of the IMF mission for Azerbaijan.
Almarzoqi said IMF expects consumer prices to accelerate to 8.5 percent this year as the Central Bank sharply devalued the national currency, manat, in February.
The non-oil economy will expand 3.5 percent this year and 4.5 percent in 2016, he said.
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