IMF says Azerbaijan leads CIS in economic growth rates

21.09.2005, 19.20
Itar Tass

WASHINGTON, September 21 (Itar-Tass) - Azerbaijan is a doubtless leader in the Commonwealth of Independent States in terms of economic growth, says a report on short-term and medium-term prospects of economic development issued by the International Monetary Fund.

It puts this year’s expected growth rate in Azerbaijan at 18.4% and next year’s rate at 26.6%. Along with it, the IMF notes a sizable increase of inflation to 12.7% from an almost zero fairly recently.

The report also predicts high growth rates in the oil and gas-rich Kazakhstan and Turkmenistan – 8.8% {7.7% next year}and 9.6% {6.5% next year}respectively.

The IMF forecasts an 8.0% {6% next year} growth in Armenia and {8.0% in 2005 and 7% next year} Tajikistan, 7.5% {4.5% next year} in Georgia, 7.1% {4% next year} in Belarus, 6.0% { 5% next year} in Moldova, 5.5% {5.3% next year} in Russia and 5.5% {5.4% next year} Ukraine, 4.0% { 5.5% next year} in Kyrgyzstan, and 3.5% {2.5% next year} in Uzbekistan.
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