IMF forecasts single digit inflation in Azerbaijan

Azerbaijan, Baku, April 22 Trend A.Akhundov / The International Monetary Fund (IMF) forecasts inflation in Azerbaijan at the level of seven per cent in 2013, and 6.5 per cent in 2014, IMF report World Economic Outlook - 2013, just published, says. According to the State Statistics Committee, the prices of consumer goods and tariffs for services in Azerbaijan in March 2013 grew by six per cent compared to the previous month and the year-on-year inflation in the first quarter of this year stood at 1.2 per cent. The IMF expects Azerbaijan's GDP will grow by 4.1 per cent in 2013, by 5.8 per cent in 2014 and four per cent in 2018 The State Statistics Committee said that in the first quarter of 2013, Azerbaijan's GDP grew by 3.1 per cent compared to the same period last year and amounted to 12.947 billion manat at current prices. According to IMF estimates, the surplus of the current account of balance of payments in 2013 will amount to 10.6 per cent of GDP, in 2014 - 6 per cent and in 2018, the deficit will be at the level of 0.1 per cent of GDP. The IMF also predicts the unemployment rate will remain at six per cent in 2013 and 2014. The official exchange rate for April 22 is 0.7847 AZN / USD.