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

Azerbaijan GDP in the first 2 months of 2012

Azerbaijan GDP in the first 2 months of 2012 Azerbaijan produced AZN 8 bln-GDP, in January-February, 2012, up 0.5% from year earlier. State Statistical Committee says, during the reporting period, GDP in the non-oil sector grew by 7.1% to 42.6%, while GDP in the oil and gas sector declined by 4.5%.  In this case, 60.5% of GDP have fallen to the share of industry, 2.5% – agriculture, hunting and forestry (an increase of 2.8%), 5% – transport... 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