The Asian Development Bank (ADB) expects the Azerbaijani petroleum sector to maintain the same growth rate, economic analyst of the ADB Nail Veliyev said, Trend reports.
Veliyev added that they also studied reduction of extraction and imports of petroleum products in Azerbaijan as the result of a reduction of economic growth rate. He noted that the ADB will hold talks with BP to forecast petroleum developments in the next years.
The ADB reconsidered the GDP growth rate and inflation expectations of 2011 and 2012 in Azerbaijan. The bank expects a 3% GDP growth in 2011 and 4.5% in 2012. The bank predicts inflation at 7.5% in 2011 and 7% in 2012.
