16/02/2011 13:04
IMF: Inflation in Azerbaijan to increase to 10% in 2011
This year, the inflation in Azerbaijan reached 10%. As the Azeri news agency APA reports, Nadeem Ilahi, Senior Economist at the Middle East and Central Asia Department of the IMF, the head of mission for Azerbaijan Nadeem Ilahi assessed at a press conference on Tuesday.
According to the IMF representative, in 2011 growth of Azerbaijan's gross domestic product (GDP) rates at 2.8%.
According to State Statistics Committee of Azerbaijan the growth of GDP of the Republic in 2010 was 5%, when, according to official figures of last year, inflation in Azerbaijan was 5.7%. However, according to an independent survey of the Center for Economic Research (CER) in 2010 inflation in Azerbaijan was officially declared twice and was 12.45%. Food inflation, according to the CER, exceeded 20%.