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

Oil GDP decreased by 3.4 % in Azerbaijan

Oil GDP decreased by 3.4 % in Azerbaijan Total GDP increased by 2.2 % thanks to non-oil growth Growth Domestic Production (GDP) reached 53.7 billion manat ($ 68.9 billion US) in the first eleven months of 2014 in Azerbaijan- State Statistics Committee reports. GDP increased by 2.2% compared to the same period of previous year. GDP per capita was 5710.7 manat ( 7 281.3 US dollars) in the indicated period. Non-oil sector increased by 6.5% compared to... Read More

Azeri Oil Output Declined in the first five months of 2014

Azeri Oil Output Declined in the first five months of 2014 Azerbaijan produced 17.7 million tonnes of oil and gas condensates in the first five months of 2014, versus 18.12 million tonnes in the same period of 2013, the Azerbaijan State Statistical Committee reported on June 12, 2014. The output declined by 2.3 % in the indicated period of 2014 compared to the same passé in previous year. The most part of the produced oil fell to the Azeri-Chirag-Guneshli... Read More

Macro-economic figures for the first quarter of 2014

Macro-economic figures for the first quarter of 2014 CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first quarter of year on April 14, 2014. Although, the Government of Azerbaijan (GoA) managed to keep economic growth in the reporting period, but real GDP growth is 2 times lower than the 2014 target. State Statistics Committee reported 2.5 % GDP Growth for the first quarter of 2014. According... Read More

Azerbaijan Economic Forecast 2014: Tottering Growth

Azerbaijan Economic Forecast 2014: Tottering Growth The IMF’s more upbeat prognosis of 2014 economic growth was met with skepticism as CESD economists said the fall in oil industry would continue to hamper the country’s growth. The International Monetary Fund (IMF) forecasts Azerbaijan’s GDP to grow by 5 percent in 2014 and by 4.6 percent in 2015. This was noted in IMF’s World Economic Outlook report on the prospects for development... Read More

World Top Mass-Media Institutions Cite CESD Reports

World Top Mass-Media Institutions Cite CESD Reports Some leading world newspapers have recently distributed article on Azerbaijan economy which titled as “Loose fiscal policy could threaten Azeri economy” where roughly cited CESD reports.  The article addresses CESD reports and macro-economic calculations as the main alternative and independent source in the country. Azerbaijan economy was discussed in the report based on both State Statistic... Read More

Azerbaijan Economy in January, 2013

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

Azerbaijan Economy in 2012

Azerbaijan Economy in 2012 Azerbaijan oil production started to decline rapidly since 2010. In fact, dramatic fall in oil industry continues to hamper the country’s total growth in 2012.  It was the main reason that Government of Azerbaijan (GoA) has adjusted its previous official forecast of 5.7 %  GDP growth in 2012 to 2.5 % in the second half of 2012. Thanks to affected growth in non-oil sector, the country was able to keep growth track... Read More

Azerbaijan Economy in the First Ten Months of 2012

Azerbaijan  Economy in the First Ten Months of 2012 Volume of industrial production was AZN 28.5 billion ($ 36,5 billion) in the first 10 months of 2012 as State Statistic Committee reported. Industrial production decreased by 3,9 % in reporting period compare with the same period of 2011. It was the main reason that Government of Azerbaijan (GoA) has adjusted its previous official forecast of 5.7 % GDP growth in 2012 to 2.5 % right Hence, it seems... Read More

How much will non-oil sector increase?

How much will non-oil sector increase? Economic growth in Azerbaijan in 2014-2016 by an annual average will be more than 5%. The statement came from Minister of Economic Development Shahin Mustafayev at a plenary session of the Milli Majlis on the draft State Budget for 2013.  “In 2013, economic growth in Azerbaijan is projected at 5.3% of GDP, in 2014-2016 by an average of more than 5% a year,” he said. According to him, in 2013, the... Read More

Next Page »