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

Inflation rate in Azerbaijan; Forecasting Accuracy Problem

Inflation rate in Azerbaijan; Forecasting Accuracy Problem The Azerbaijani State Statistics Committee has surprisingly adjusted its forecasted inflation rate for 2012 6,0 % to 4,0 % as the committee reported. According to the State Committee, “The macro-economic indices reflecting socio-economic development of the country increased in the first quarter of 2012,” he said. “The amount of pensions and population income increased whilst... Read More

Azerbaijan Economy in 2011

Azerbaijan Economy in 2011 Government of Azerbaijan (GoA) failed to achieve economic growth forecast for 2011. According to the State Statistic Committee Gross Domestic Product  (GDP) increased by 0.1 % and reached to 50.10 billion manat ($ 64,23 billion) in 2011 although th GoA projected 3,8 % growth for last year.  The State Committee reported that GDP per capita without PPP was 5530.6 manat ($ 7003, 4) in 2011.  According to State Committee... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More