Azerbaijan Economy in The First 7 Months of 2013; Brief Overview

Azerbaijan Economy in The First 7 Months of 2013; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first 7 months of the year on August, 16, 2013. According to CESD survey, GDP Growth was 3, 8 % in the first seven months of 2013 meanwhile, the center’s price calculation results reached 3,17 % inflation rate in the same period. State Statistics Committee of Azerbaijan, however, reported... Read More

Azerbaijan Economy in The First Half of 2013; Brief Overview

Azerbaijan Economy in The First Half of 2013; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first half of year on July, 22, 2013. According to State Statistics Committee of Azerbaijan, oil production is in stabilization phase in Azerbaijan, now since the committee reported only 0,7 % decline in oil GDP. CESD calculations, however, show that oil GDP declined by 2,1 % in the indicated... Read More

Azerbaijan Economy in The First Four Months in 2013; Brief Overview

Azerbaijan Economy in The First Four Months in 2013; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first four months of year on May, 17, 2013. Independent calculated data show that decline in oil production and oil export was continued in the first four months of 2013. Meanwhile, the government reports also proof that decline in oil export continue in the same period of 2013. State... 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

CESD forecasts a slowdown in economic growth in Azerbaijan

CESD forecasts a slowdown in economic growth in Azerbaijan The Center for Economic and Social Development (CESD) has adjusted its previous forecast of 3.7 % GDP growth in 2012 to 2.1 % after finalizing CESD Surveys Results for the first 8 months of 2012. The center also forecasts 5.2 % growth in the non-oil sector while the Azerbaijan government still targets 9.0 % growth in 2011. CESD reports that the inflation rate in Azerbaijan is expected to be... 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