Azerbaijan Economy in the first two months of 2017; Brief Overview

Azerbaijan Economy in the first two months of 2017; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first two months of 2017. Both independent and official reports show that GDP slightly increased in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP increased by 0.4 % in the first two months of 2017 compared with the period of 2016 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 January, 2014; Brief Overview

Azerbaijan Economy in January, 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first month of year on February 20, 2014. Independent calculated data show that decline in oil production and oil export will continue in 2014, too. Meanwhile, the government reports also proof that decline in oil export continue in January, 2013. State Oil Company of Azerbaijan (SOCAR) has recently... Read More

Is nonoil sector reached 47% in GDP?

Is nonoil sector reached 47% in GDP? GDP increased in 2011 and a 9.5% growth was achieved in nonoil sector. According to sources in the Ministry of Economic Development, the statement came from Economic Development Minister Shahin Mustafayev, Gun.Az reports. He was speaking at the collegiate sitting on by results of the year. He said the nonoil share in GDP reached 47.3% in 2011. In the same year, foreign investors showed greater attention to... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More