Economy Grapples With Dutch Disease

Azerbaijan's red-hot economy is unlikely to cool during the next six months so long as the nation's booming oil industry continues to act as a highly charged engine of economic growth. After growing an emphatic 26.4% in 2005, Real GDP will jump by almost 27% this year, which is nearly three times the pace of growth expected in Armenia and Georgia. Industrial output will continue to surge, imports will rise by more than 10% and foreign sales of oil, which account for more than 90% of total exports, will hit their highest level on record, almost double the amount sold

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