Fitch downgrades inflation forecast for Azerbaijan

Fitch downgrades inflation forecast for Azerbaijan

The International Ratings Agency Fitch Ratings has downgraded the forecast on inflation in Azerbaijan from 14 to 11.5 percent and from 7 to 6 percent, respectively in 2016 and 2017.

Fitch report says that the inflation in the country is expected at the level of 3 percent in 2018, Trend writes.

The agency’s forecast for the growth of Azerbaijan’s GDP has remained unchanged – at the level of 1.5 percent for 2017, while the forecast for 2016 has been upgraded from 3.3 to 3 percent.

Meanwhile, Fitch expects that Azerbaijan’s economy will grow by 3 percent in 2018.

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