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World Bank: Azerbaijan to remain world leader in economic growth until 2009

By M. Alkhazashvili
(Translated by Diana Dundua)
Friday, January 11
Azerbaijan will remain a world leader in terms of economic growth until at least 2009, according to a World Bank Economic Outlook report released on January 8.

Azerbaijanís annual GDP growth over the past five years has averaged 12 percent, thanks largely to oil and gas production, according to the World Bank.

The report also forecast world economic growth rate to slow for a second consecutive year. World economic growth is expected to be 3.3 percent in 2008, compared to an estimated 3.6 percent last year and 3.3 percent in 2006.