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Azerbaijan leads the world in GDP growth rates, European Bank for Reconstruction and Development (EBRD) said.

According to the EBRD's report made November 13 in London, Azerbaijan has become one of the world’s fastest growing economies with growth of over 26 per cent due to the expansion of its oil sector with the opening of the Baku-Tbilisi-Ceyhan pipeline this year.

During first nine months of 2006, GDP in Azerbaijan grew 34 per cent, State Statistics Committee of Azerbaijan said.

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