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Azerbaijani newspaper warns on sustainable growth

By M. Alkhazashvili
(Translated by Diana Dundua)
Monday, December 31
In the first eleven months of 2007, according to the news agency Regnum, Azerbaijan’s per capita GDP rose 24 percent over the previous year.

Azerbaijani newspaper Zerkalo chalked up the rapid economic development to foreign investments in the country’s oil and natural gas sector, but cautioned that the current pace of development is not sustainable.

Foreign investors are not interested in capacity-building investments, the newspaper writes, meaning Baku will need to use the current influx of money wisely as the country’s energy reserves are not unlimited.