Today.Az » Business » The Economist: "Inflation will further rise and then gradually fall in the next five years"
04 September 2008 [12:43] - Today.Az
GDP growth rates will fall down to 5-6% from the current 15-16% until 2012, said editor-in-chief of the survey department of The Economist Magazine Anna Walker.
She said in line with the forecasts of The Economist magazine for the next 5 years that in the said period inflation will rise and then gradually fall down in Azerbaijan.
"This year inflation rate in Azerbaijan makes 25% by official data and is even higher by unofficial information. We predict the inflation rate to be 18-20% in 2009 and its rates will reduce to 7% in 2012. These indicators mostly depend on oil revenues and oil prices on the world markets", said Walker.
She noted that while developing the forecasts, the data, provided by international financial institutions, were taken as a basis.
Asked about expediency of investing oil revenues into infrastructural projects, Walker noted that a developed infrastructure is among main stimulus for the inflow of investments to the country. "At the same time, oil revenues, accumulated in the State Oil Fund, should be utilized cautiously enough", concluded she.
/Day.Az/
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