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IMF expects single-digit inflation in Azerbaijan in 2018-2019

18 April 2018 11:05 (UTC+04:00)
IMF expects single-digit inflation in Azerbaijan in 2018-2019

By Trend

The International Monetary Fund (IMF) expects single-digit inflation in Azerbaijan in 2018-2019, according to the updated World Economic Outlook (WEO) of the IMF.

Inflation rate in Azerbaijan is expected at 7 percent in 2018 and at 6 percent in 2019, according to the report. In the previous report of October last year, the IMF forecast 8 percent inflation rate in Azerbaijan.

This is while Azerbaijani government expects a 6-8 percent inflation rate this year.

The level of inflation in Azerbaijan will be one of the lowest among the CIS energy exporting countries, according to the IMF report.

Inflation level in CIS energy exporting countries, in percent:

Country

2018

2019

Azerbaijan

7

6

Russia

2.8

3.7

Kazakhstan

6.4

5.6

Uzbekistan

19.5

12.9

Turkmenistan

9.4

8.2

Average rate

4.1

4.5

In addition, the IMF significantly improved the forecasts regarding the current account of Azerbaijan’s balance of payments. It is expected that the current account surplus of Azerbaijan will be 5.6 percent in 2018 and 7 percent in 2019.

In the October report last year, the IMF expected the current account surplus of Azerbaijan at 2.5 percent for 2018.

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