International institutions sceptical about Azeri development speed

Azerbaijan claims that by 2013 the country will be at the level of average developed European states. However international financial institutions challenge this assertion, stating that Azerbaijan's potential for economic growth has reached its limits.

The World Bank's analysis is not that optimistic either. It state that GDP growth in 2010 could reach 2.3%, but it will fall by 1% in 2011. In 2012 it is projected to grow once again by 2 5%, but it will decline again thereafter.