IMF: Azerbaijan's economy grew by 4% last year

Baku. May 14. REPORT.AZ/ 4% economic growth was observed in oil exporting countries such as Azerbaijan and Kazakhstan In 2017.

Report informs, it is stated in the renewed report of "Regional Economic Outlook: Caucasus and Central Asia" by the International Monetary Fund (IMF).

According to the report, this figure was 2.4% in 2016 and a sharp increase in oil prices in the second half of 2017 advantaged to the growth of these countries economies. "High state investment in Azerbaijan has contributed to growth by balancing weaknesses in other areas. It is planned that capital investment will be expanded in the country and it will promote the increase of absorption capacity of the economy. "

The IMF estimates that fiscal management is currently under way in Azerbaijan and the medium-term fiscal framework of the country has not been determined.

The organization also noted that there are difficulties in the banking sector of Azerbaijan, Kazakhstan, Kyrgyzstan and Tajikistan.