Azerbaijan Economy in the First Eight Months of 2016; Brief Overview

Azerbaijan Economy in the First Eight Months of 2016; Brief Overview

CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first eight months in 2016. Both independent and official reports show that GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased 3.1 % in the first eight months in 2016 since CESD calculations found out 3.9 % decline in the economy. According to the State Statistic Committee reports, the main reason of economic slowdown was economic decline in the construction sector. The committee has reported that 38,027 billion manat ($23.32 billion US) GDP was produced in the indicated period.

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