World Bank has lowered the forecast GDP Growth in Azerbaijan

World Bank has lowered the forecast GDP Growth in Azerbaijan World Bank (WB), published a Global Economy Prospects Report. The Bank forecasts Azerbaijan’s GDP Growth by 3.1% in 2012, 3.5% in 2012, and 4.5 % in 2014. At the same time a surplus current account in Azerbaijan this year will be as expected in the WB, 24.9% of GDP next year – 21.6%, and in 2014 – only 18%. Vugar Bayramov, the chairman of the Center for Social and Economic... Read More

Azerbaijan Economy in the First Four Months of 2012

Azerbaijan Economy in the First Four Months of 2012 Government of Azerbaijan (GoA) has failed to achieve projected economic growth forecast for the first four month of 2012. According to the State Statistic Committee Gross Domestic Product  (GDP) increased only by 0.3 % and 16,6  billion manat ($ 21,3 billion) GDP generated in this period although th GoA projected 5,7  % growth for this year.  GDP per capita was $ 6,0 thousand in the first four... Read More

The World Bank Adjusted GDP Grow Forecast for Azerbaijan

The World Bank Adjusted GDP Growth Forecast for Azerbaijan The World Bank  (WB) also adjusted its forecast for GDP Growth in Azerbaijan in 2012, The Bank’s projection decreased from 6,1 % to 3.1%  according to  WB Global Economic Prospects Report.  Last week, International Monetary Fund (IMF) adjusted its economic growth for Azerbaijan from 7.2 % to 5.7 %. IMF’s newest explanation on modification was bottom on decreasing of oil production. According... Read More