IMF says inflation rate will make 22.4% in Azerbaijan in 2008

Inflation rate in the CIS, according to the IMF forecasts, will grow as compared to data, provided in the April report of the fund. CIS inflation will make 15.6% in 2008 and 12.6% in 2009.

It will be 17.6% in Kazakhstan in 2008 and 9.8% in 2009. In Russia it will make 14% in 2009.

The hard situation is in Ukraine: according to IMF forecasts inflation rate will make 25.3% in 2008 and in 2009 it will be 18.8%.

The situation is predicted to be uneasy in Azerbaijan as well: inflation rate here will rise up to 22.4% in 2007 and will make up 20% in 2009.

In Kyrgyzstan, IMF expects the inflation rate to be 24.5% by results of 2008 and 12.2% in 2009.

IMF considers that in order to soften inflation, the CIS countries must reduce or eliminate taxes and tariffs on import of key foodstuffs, reduce taxes inside the country or offer subsidies on foodstuffs and fuel and introduce top prices on key foodstuffs and impose taxes and quotes on export.

RIA Novosti