Single-digit economic growth due this year - expert
Azerbaijan will see a single-digit economic growth
this year, the chairman of the Economic and Social Development
Center predicts.
According to Vugar Bayramov, a downward trend has been observed in Azerbaijan`s macroeconomic indicators in recent years. Although a slight increase in the Gross Domestic Product was observed in 2008, its percentage to previous years has been reduced. Whereas in 2006 GDP growth rate was 34.5%, in 2007 the indicator dropped to 25% and to a further 10.8% in 2008.
Bayramov believes that monopolistic practices were a major obstacle. "If monopolization is not tackled as a problem, no anti-crisis programs can be of help," he said.
The Azerbaijani government is expected to adopt a program in May aiming to counter the ongoing economic crunch.
According to Vugar Bayramov, a downward trend has been observed in Azerbaijan`s macroeconomic indicators in recent years. Although a slight increase in the Gross Domestic Product was observed in 2008, its percentage to previous years has been reduced. Whereas in 2006 GDP growth rate was 34.5%, in 2007 the indicator dropped to 25% and to a further 10.8% in 2008.
Bayramov believes that monopolistic practices were a major obstacle. "If monopolization is not tackled as a problem, no anti-crisis programs can be of help," he said.
The Azerbaijani government is expected to adopt a program in May aiming to counter the ongoing economic crunch.
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