Azerbaijan posts a record GDP.
by MEDIA CONTACT RESOURCES, INC.
Among the Commonwealth of Independent States, commonly referred to
as the CIS countries, that is now independent countries formerly part of
the Soviet Union, Azerbaijan is a rising star. According to a report
carried by the AssA-Irada News Wire (Baku) Azerbaijan had the strongest
GDP growth of any of the 11 CIS countries. It was reported to be 16.5
percent, far above Armenia's 10.2 percent, the second place CIS
contender.
Azerbaijan (pronounced ah-zar-by-JOHN, emphasis on the last
sylable, with the first 'a' as in 'father' and the
second 'a' as in 'cat', according to the azer.com
Website, a site specializing in Azerbaijani culture) was forecast to
have a GDP of 11.4 percent in 2005 by the International Monetary Fund
(IMF). Indications are that it could be much higher.
Azerbaijan is an oil producing state, benefiting from the surge in
world oil prices. Its per capita income is US$4,320, an IMF estimate for
2005. Its consumers are the urban elite.
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