IMF says Azerbaijan`s nonoil sector to grow 9% in 2011
Baku, November 2 (AZERTAC).Head of the International Monetary Fund`s mission on Azerbaijan Nadim Ilahi has the country`s non-oil sector will see a 9% growth this year.
Speaking to a press conference, Ilahi said: "This year, the non-oil sector in Azerbaijan expects about 9% growth (compared to 7.5% in 2010). In 2012 growth rates can make up 6%. This will be promoted by state spending."
Inflation in Azerbaijan is expected to reach 8% by the end of the year, the head of the IMF mission noted.
“The Azerbaijani economy is developing at a fast pace at the moment. Macroeconomic stability has been ensured and poverty rate has significantly reduced.”
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