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

Is nonoil sector reached 47% in GDP?

Is nonoil sector reached 47% in GDP? GDP increased in 2011 and a 9.5% growth was achieved in nonoil sector. According to sources in the Ministry of Economic Development, the statement came from Economic Development Minister Shahin Mustafayev, Gun.Az reports. He was speaking at the collegiate sitting on by results of the year. He said the nonoil share in GDP reached 47.3% in 2011. In the same year, foreign investors showed greater attention to... 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