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

Azerbaijan Economy in the First Ten Months of 2016; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first ten 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 3.7 % in the first ten months in 2016 since CESD calculations found out 4.1 % decline in... Read More

CESD: ADB’s Forecasts are Unrealistic

CESD: ADB’s Forecasts are Unrealistic The Asian Development Bank’s more upbeat projection of 2015 economic growth was met with skepticism as CESD economists said which the decline of crude oil price would continue to hamper the country’s growth. ADB expects that the GDP growth in Azerbaijan will be equal to 3.0 percent in 2015 and 2.8 percent in 2016. ADB Asian Development Outlook, published this week says that “despite a continuing slowdown... Read More

Has GDP Increased in Azerbaijan?

Has GDP Increased in Azerbaijan? Gross Domestic Product (GDP) was 7.1 billion manat in the first 2 months of 2015. According to the State Statistics Committee of Azerbaijan, GDP increased by 4.2% compared to the same period of previous year. However, the committee have not reported how GDP growth was calculated. The point is that GDP was 8.5 billion manat in the first 2 months of 2014 (Fore reference see, the committee’s 2014 report: http://www.stat.gov.az/rss/az/view.php?newsid=2194... Read More

Azerbaijani Nominal GDP Declined by 18.0 %

Azerbaijani Nominal GDP Declined by 18.0 % Azerbaijan’s nominal GDP in the first month of 2015 fell by 30.6% against December 2014 and by 17.9% against January 2014. The State Statistics Committee reports that in January 2015 Azerbaijan’s GDP totaled AZN 3.631 billion ($ 4.629 billion) that in comparable prices is by 4.4% more than GDP for January 2014 (AZN 4.423 billion), that is nominal GDP fell by 17.9%. The real non-oil GDP grew by 5.5%... 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

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