(Corrects year of forecast in headline and first paragraph to 2017 from 2016)
BAKU, Sept 29 (Reuters) - Azerbaijan's Finance Ministry on Thursday forecast gross domestic product growth of 1 percent for next year, according to a statement on the ministry's website.
The International Monetary Fund predicts Azeri GDP will fall 2.4 percent this year while the European Bank for Reconstruction and Development sees a 3 percent contraction. (Full Story)
The ministry also said it assumed an average oil price of $40 per barrel in the 2017 budget. (Reporting by Nailia Bagirova; Writing by Lidia Kelly in Moscow; Editing by Maria Kiselyova)