Fitch Rating’s Forecasts for Azerbaijan Economy

Fitch Rating’s Forecasts for Azerbaijan Economy Fitch Rating has published today its forecasts for the economic situation in Azerbaijan for 2015-17. The report of Fitch’s senior director Paule Gamble says that by the end of 2015 the GDP growth rate is projected to be 2.3%, for 2016 – 2.7%, and for 2017 – 3%. By the end of 2015 Fitch expects inflation in Azerbaijan at the level of 5.5% (optimistic scenario), in 2016 – 5%, and in 2017... Read More

2015 Growth Forecast for Azerbaijan Adjusted

2015 Growth Forecast for Azerbaijan Adjusted The European Bank for Reconstruction & Development (EBRD) has announced Regional Economic Prospects 2015. The Bank has adjusted its official growth forecast from 3.0 % to 1.5 % in 2015. The Bank has reported that Azerbaijan has “suffered” because of its dependence on hydrocarbons whose prices have fallen. At that, the ERBD is confident in the country’s sustainability to external shocks and... Read More

Azerbaijani Oil Export in 2014: Brief Overview

Azerbaijani Oil Export in 2014: Brief Overview 2014 was marked by a sudden decline in oil prices in the world market. As an oil exporter country, Azerbaijan started feeling effects of a sharp fall in oil revenue after oil price decline in the world market owing to decline of the country’s oil income. In spite of the fact that Azerbaijan was able to reduce share of oil industry both in public revenues and in the country’s Gross Domestic Product... Read More

Azerbaijan Economy in 2014

Azerbaijan Economy in 2014 Decline of oil price in the world market was the main character of Azerbaijan economy in 2014. As an oil exporter country, Azerbaijan might face the effects of a sharp fall in oil revenue after oil price decline in the world market. Azerbaijan is heavily dependent on oil and natural gas export revenues. In fact, 2014 was somehow successful for Azerbaijan economy since the country was able to reserve growth in the almost... Read More

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy The main goal of the study is to assess how oil price decline in the world market will potentially impact Azerbaijani Economy. The paper specifically looks how last changes in the world market will effect on both revenue and expenditure sides of the state budget. The study also examines “side impact” and “domino effects” of low oil prices. As an oil exporter country Azerbaijan... Read More

Azerbaijan Economy in the First Ten Months of 2014; Brief Overview

Azerbaijan Economy in the First Ten Months of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first ten months of year on November, 15, 2014. Both independent and official reports show that oil GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, oil GDP decreased 1.8 % in the first ten months of 2014 since CESD calculations... Read More

Inflation comes in higher than expected

Inflation comes in higher than expected “The macroeconomic indicators are positive, and the trend will continue throughout the second half of this year,” Chairman of the Center for Economic and Social Development Vugar Bayramov told local press. “But, a look at specific sectors of the economy shows that there would be a price hike in the consumer market,” the experts said. It is expected that in August and September the prices... Read More

Azerbaijan Economy in the First Half of 2014; Brief Overview

Azerbaijan Economy in the First Half of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first half of year on July, 15, 2014. Both independent and official reports show that oil GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, oil GDP decreased 3.9 % in the first four months of 2014 since CESD calculations found out 4.8... Read More

Azeri Oil Output Declined in the first five months of 2014

Azeri Oil Output Declined in the first five months of 2014 Azerbaijan produced 17.7 million tonnes of oil and gas condensates in the first five months of 2014, versus 18.12 million tonnes in the same period of 2013, the Azerbaijan State Statistical Committee reported on June 12, 2014. The output declined by 2.3 % in the indicated period of 2014 compared to the same passé in previous year. The most part of the produced oil fell to the Azeri-Chirag-Guneshli... Read More

Azerbaijan Economy in the First Four Months, 2014; Brief Overview

Azerbaijan Economy in the First Four Months, 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first month of year on May 20, 2014. Both independent and official reports show that oil GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, oil GDP decreased 3.2 % in the first four months of 2014 since CESD calculations found out... Read More

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