Azerbaijan, Baku, May 11 / Trend, N.Ismayilova /
Economic growth of Azerbaijan forecasted for 2010, mainly due to growth of fuel prices and foreign demand, makes seven percent. Thus, Azerbaijan's economy will be one of the most rapidly developing economies, said in the report of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).
However, growth of non-oil sector is expected lower compared to the level of oil sector. Prices for commodities and energy will grow, and as a result of increased capital flows and domestic demand in 2010, annual inflation could reach six per cent.
Due to the renewal of the global development process in 2010 increase of the flow of foreign capital in Azerbaijan is expected.
Amid growth of oil export increase in the positive balance of current operations in Azerbaijan is also expected.
According to the report, growth in Chinese economy in 2010 is forecasted at 9.5 percent, India - 8.3 percent, and total growth in the region - at 7 percent.