Standard & Poor`s predicts inflation at 5%
Inflation will reach 5 percent in Azerbaijan in
2009, the international rating agency, Standard & Poor`s,
predicts.
The group said in its assessment of the country`s banking system that Azerbaijan`s fast-growing economy has weathered the impact of the ongoing global crisis. However, inflation will be slightly higher next year, at 7 percent, Standard & Poor`s forecasts.Azerbaijan`s Central Bank has made the same projection for this year`s inflation.
For comparison`s sake, inflation constituted 16.5 percent in the country in 2008, according to official estimates.
The group said in its assessment of the country`s banking system that Azerbaijan`s fast-growing economy has weathered the impact of the ongoing global crisis. However, inflation will be slightly higher next year, at 7 percent, Standard & Poor`s forecasts.Azerbaijan`s Central Bank has made the same projection for this year`s inflation.
For comparison`s sake, inflation constituted 16.5 percent in the country in 2008, according to official estimates.
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