Azernews.Az

The Asian Development Bank (ADB) forecasts the economic growth in Azerbaijan in 2013 at the level of two percent, economist of the bank's Baku Office Nail Veliyev said at a press conference on Thursday, Trend news agency reported.

"According to the bank's report Asian Development Outlook Supplement, published in December, the forecast for economic growth in Asia in late 2012 has been reduced from the previously established level of 6.2 percent to 6 per cent," he said. "The growth will hit 6.6 percent in 2013. The inflation is forecast this year at 5.4 percent, in 2013 - 6.5 percent. As for Azerbaijan, taking into account the decline in oil production in the country, we expect slight growth at a level of around two percent in 2013."

He said that the bank's forecasts on macroeconomic indices for the next year have not been prepared and will be published in early 2013.

The ADB was established in 1966 and has 67 members. The headquarters of the bank is located in the capital of the Philippines, Manila.

Azerbaijan became a member of the Asian Development Bank on December 22, 1999. The country's participation share in the bank's capital is 0.5 per cent.