The International Monetary Fund (IMF) has improved the inflation outlook in Azerbaijan for 2016 and 2017 to 10.2% and 8.5%, respectively, the fund’s report said.
Earlier in April, the IMF expected inflation in Azerbaijan at the level of 12.8% for 2016 and at 9.5% for 2017.
The IMF also expects inflation in Azerbaijan to decline sharply to 4.2% by 2018 and continue to decline gradually to 4.1% in 2019 and 4% in 2020, according to the updated report.
Executive directors of the fund positively assess Azerbaijani government’s steps in connection with the recent increase of interest rates aimed at curbing inflation, the report says.
The Central Bank of Azerbaijan (CBA) increased the interest rate from 9.5% to 15% on September 14.
The IMF experts believe that the current policy of Azerbaijani government will lead to a gradual reduction in growth of consumer prices. (Trend/Business World Magazine)
