Dramatic Decreasing in Azerbaijan Industry

Dramatic Decreasing in Azerbaijan Industry Industrial production fall 3,3 % and oil sector down 5,4 % 23.0 billion manat products were produced in industrial sector of Azerbaijan in the first 8 months of 2012. Industrial production decreased by 3,3 % in this period compare the same stage in 2011. 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... Read More

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 state budget revenues were $ 20,1 billion

Azerbaijan state budget revenues were $ 20,1 billion In 2011, revenues of the state budget increased by 37.7% and made up AZN 15.7 billion (($ 20, 1 billion) while the expenditures increased by 30.8% and totaled AZN15.4billion. The state budget was realized proficiently. The statement came from Economic Development Minister Shahin Mustafayev as the meeting of the Cabinet of Ministers on socio-economic development results in 2011 and tasks defined... Read More