IMF downgrades inflation forecast for Azerbaijan

Baku. 5 October. REPORT.AZ/ The International Monetary Fund (IMF) has made changes to some of its forecasts for Azerbaijan.

Report informs, the fund's new 2016 overview declares.

According to the new review released in October, the fund has downgraded dynamics of the real GDP from -3% to -2.4% for Azerbaijan in 2016. This figure is expected to grow by 1.4% next year. In addition, in April review, GDP growth forecast to 2017 displayed at 1%.

The IMF has also changed its forecast on inflation for Azerbaijan. Thus, the fund predicts growth in the range of 10.2% in Azerbaijani consumer prices this year. Notably, the figure was 12.8% in April forecast.

Compared to April's 9.5%, the IMF has reduced inflation forecast for 2017 to 8.5%.