CESD forecasts a slowdown in economic growth in Azerbaijan

CESD forecasts a slowdown in economic growth in Azerbaijan

The Center for Economic and Social Development (CESD) has adjusted its previous forecast of 3.7 % GDP growth in 2012 to 2.1 % after finalizing CESD Surveys Results for the first 8 months of 2012. The center also forecasts 5.2 % growth in the non-oil sector while the Azerbaijan government still targets 9.0 % growth in 2011. CESD reports that the inflation rate in Azerbaijan is expected to be 9.5 %, which scheduled only 6.0 % by the Government of Azerbaijan earlier in the year.

Meanwhile, the State Statistical Committee reports that production in non-oil sector grew by 7.9%, while production in oil sector dropped 5.4%. GDP increased only 1,3 % in this period. The CESD survey results show that GDP increased 0,7 % in the first eight month of 2012 since growth in non-oil sector was 6,1 %…

Download Full Article Here

Leave A Comment