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Old 29th December 2007, 01:31 PM
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So you are impressed with China's growth?

BAKU, December 29 (RIA Novosti) - Azerbaijan's GDP rose to 20.8 billion manats (over $24.6 billion) in the first 11 months of 2007, up 25.4% year on year the country's central bank said in a statement on Saturday.

The National Bank of Azerbaijan (NBA) said in a report on the country's macroeconomic indicators that in the reporting period, Azerbaijan's international reserves increased by 91.1%, to $4.447 billion.

In January-November 2007, the country's GDP in the non-oil sector grew by 9.9% to over $8.8 billion year on year.

Fixed capital investment rose by 16.8% to about $6.8 billion.

Nominal incomes increased 39.7% to over $14.6 billion, while the average wage in the country stood at over $235 up 41.7% year on year.

http://en.rian.ru/world/20071229/94713502.html
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Old 29th December 2007, 02:14 PM
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Re: So you are impressed with China's growth?

Additional information:
The estimated inflation there is estimated to be about 17% in 2007.
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Old 29th December 2007, 02:17 PM
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Re: So you are impressed with China's growth?

Not really surprising if you have wage inflation over 40%. Even so I bet their currency is hardening rather than weakening, and it will have bugger all impact on their ability to export oil, so I guess it is of little consequence.
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