BAKU, Sept 29 Azerbaijan's Finance Ministry on
Thursday cut its gross domestic product growth estimate for this
year to 1 percent from 1.8 percent, according to a statement on
the ministry's website.
The International Monetary Fund predicts Azeri GDP will fall
2.4 percent this year while the European Bank for Reconstruction
and Development sees a 3 percent contraction.
The ministry also said it expected 1 percent GDP growth next
year and that it had assumed an average oil price of $40 per
barrel in the 2017 budget.
(Reporting by Nailia Bagirova; Writing by Lidia Kelly in
Moscow; Editing by Maria Kiselyova)