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IMF sees Azerbaijan's GDP falling 2.4 pct in 2016

IMF sees Azerbaijan's GDP falling 2.4 pct in 2016
03.06.2016 09:00
The International Monetary Fund revised Azerbaijan's gross domestic product forecast to a 2.4 percent decline on Thursday, versus an earlier estimate of a 3.0 percent GDP fall, according to a statement published on the Fund's website.

"The authorities have taken a number of steps in response to the weak external environment — including a prudent shift in the policy mix," the IMF said in its statement.

Growth is expected to rise to about 2.5 percent to 2.75 percent over the medium term as gas production and exports rise and reforms start to take effect, the Fund added.

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