Azerbaijan Economic Forecast
November 28, 2017Azerbaijan’s oil-dependent economy continues to struggle. The monthly GDP indicator showed that the economy shrank 0.7% in the first 10 months of the year compared to the same period last year. However, the non-oil economy posted a solid 2.1% growth rate in the same time frame. It was carried by growth in non-oil industrial and agricultural production, which offset a contraction in fixed investment. In late November, parliament started discussions on the draft budget for the next four years; the budget is likely to focus on supporting non-oil economic activity in a bid to diversify the economy and improve the business environment.
Azerbaijan Economic GrowthAhead of the Eastern Partnership Summit in Brussels on 24 November, the EU commented that substantial progress has been made in its relationship with Azerbaijan, which could improve the country’s export potential. The non-oil sector and household spending are expected to propel the economy next year. Our panel sees GDP grow of 1.5% in 2018, unchanged from last month’s estimate, and 2.4% in 2019.
Azerbaijan Economy Data
5 years of Azerbaijan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.70||-0.66 %||Dec 06|
|Stock Market||0.1||0.0 %||Dec 06|
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