EBRD forecasts economic downturn in Azerbaijan in 2017

EBRD forecasts economic downturn in Azerbaijan in 2017 Full report is available The European Bank for Reconstruction & Development (EBRD), which published today the Regional Economic Prospects, has reported that in 2017 economic decline in its operations region will be only in Azerbaijan and Belarus. According to the EBRD, this year Azerbaijan’s GDP will decrease by 0.5%, but in 2018 will increase by 2%. At that, in 2017 the EBRD increased... Read More

New decline in oil industry and Growth in non-oil sector in Azerbaijan

New decline in oil industry and Growth in non-oil sector in Azerbaijan The State Statistics Committee of Azerbaijan reported that oil and gas industry declined by 1.7% in last 10 months of 2014 compared to the same period in previous year. Monthly decline has been observed in 2014. The highest declined was registered in January, 2014: energy sector declined 5.2 % in the first month compared to the same month of 2013. Meanwhile non-oil industry grew... Read More

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

Azerbaijan Economy in the First Nine Months of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first nine months of year on October, 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 2.0 % in the first nine months of 2014 since CESD calculations... Read More