IMF: Azerbaijan’s economy gradually recovering

"According to our latest observations, Azerbaijan’s economy gradually recovers, chief of IMF Mission to Azerbaijan Natalia Tamirisa said at the press conference.

Report informs that she voiced a number of predictions for the next two years: "We expect the price rise in the country to constitute 3.3%, non-oil sector to grow by 2.7%, surplus of consolidated budget to be 5.3% and surplus of the current account to increase to 10% of GDP thanks to growth in oil revenues."

The IMF official also said that the consolidation policy in the country should continue: "To my mind, the decision of the Central Bank of Azerbaijan to reduce the discount rate is a successful step."