IMF improves annual inflation forecast in Azerbaijan

The International Monetary Fund (IMF) forecasts annual inflation in Azerbaijan this year at 10.3%, Report informs referring to the October issue of the IMF’s World Economic Outlook report.

According to the document, this is 1 percentage point less than the forecast for April.

The IMF expects inflation in Azerbaijan to be 5.6% next year, which is 2.4 percentage points less than the previous forecast. The financial institution kept its inflation forecast in 2028 at 4%.

In the State Budget of the Republic of Azerbaijan for 2023, annual inflation is projected at 6.2% in 2022-2026. The inflation forecast for 2023 was 6.9%.