Boom and gloom
Mar 8th 2007
From the Economist Intelligence Unit ViewsWire

Azerbaijan's economy, drunk on oil, is suffering rapid inflation
Azerbaijan is the world’s fastest growing economy, thanks to an oil boom, but it is already running into serious difficulty. A huge expansion in budgetary spending has pushed inflation close to double digits—in month-on-month terms—and there are early but ominous signs that the non-oil economy is losing competitiveness. The economy is already showing signs of Dutch Disease—and the maintenance of artificial monopolies throughout the economy will serve to exacerbate the problem.

More: http://www.economist.com/displayStory.cfm?story_id=8819945&fsrc=RSS