Inflation could top single digits in Azerbaijan – official
BAKU – Keeping inflation at single digits in Azerbaijan will be challenging if the projections on surges in world crude prices are justified, an official was quoted as saying.
"This is because it will not be up to us. If the prices for imported goods increase, what can the government do?" said Mail Rahimov, the presidential administration official in charge of economic policy, told the Baku-based APA news agency.
Influential financial institutions Bank of America and Merrill Lynch have predicted that oil prices in world markets are likely to hit $160 a barrel this year, mainly due to the rising demand for oil and the unrest in Libya, a major oil producer. Some projections have even put the figure at $200.
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