IMF: Azerbaijan's GDP to shrink by 2.4% this year

IMF: Azerbaijan's GDP to shrink by 2.4% this year
  • Clock-gray 08:37
  • calendar-gray 05 October 2016

Baku. Musa Ahmadov – APA-Economics. Azerbaijan's Gross Domestic Product (GDP) will shrink by 2.4% this year, predicts International Monetary Fund’s latest World Economic Outlook.

 

IMF forecasts Azerbaijan's economic growth in 2017 at 1.4 percent.

 

The IMF now sees average 2016 inflation at 10.2 percent, compared with its previous 12 percent forecast.

 

Next year, average annual inflation is seen at 8.5 percent, down from 9.5 percent expected earlier, the IMF said.

 

Azerbaijan’s unemployment rate will make 6 per cent in 2016-2017.

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