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Azerbaijan GP organisers deny F1 race under threat
Organisers for the upcoming F1 Grand Prix of Europe in Azerbaijan say its inaugural event is not under threat, despite a recent global drop in oil and gas prices sparking economic concerns. Azerbaijan is gearing up to host its maiden F1 race in June this year around the streets of its capital city Baku, but it comes at a time when global prices in gas and oil – which it is economically dependent on – have slumped. Indeed, though Azerbaijan economy has grown sharply in recent years on the back of rising prices, the drop has caused the local currency, the Manat, to devalue sharply, raising concerns that it could be forced to rein in public spending in an effort to stabilise it again....
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