EBRD: Lowest economic growth in the CIS Place will be in Azerbaijan

According to APA-ECONOMICS, EBRD's renewed report says that, the GDP in Azerbaijan is expected to increase by 3.5% during 2011. This is the lowest indexation among the CIS countries. Thus, the GDP will rose 4% in Belarus and Ukraine, 4.5% in Moldova and Armenia, 4.6% in Russia, 5% in Kyrgyzstan, 5.5% in Kazakhstan, 6.7% in Tajikistan, 8.5% in Uzbekistan and 10% in Turkmenistan.

According to EBRD's predictions, the economic growth will be 2.5% in Lithuania, 2.7% in Latvia, 3.6% in Estonia and 5% in Georgia.

Economic growth in Azerbaijan has slowed down as oil and gas production stabilised, but the non-oil sector recovered faster than expected. The pace of structural reforms accelerated somewhat as the authorities negotiate the WTO accession. The diversification of the economy remains important as risks associated with high oil dependence became apparent during the crisis, when oil prices declined. FDI inflows into the non-oil sector remain low. Immediate macroeconomic risks are mitigated by a very strong fiscal position, Kazinform refers to APA.

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