Azerbaijan’s economy will grow 1 percent - ADB
ADB had earlier forecasted 1.1 percent decline in Azerbaijan in 2017.
According to him, the economic decline is mainly caused by decrease of oil price.
“In the first half of 2017, the oil output reduced 9 percent in the country, which is 0.4 percent more than last year’s reduction”, he said.
Along with this, Mannapbekov thinks that Azerbaijan’s economy will grow: “the economy will grow on the background of start of output in Shahdeniz 2 in 2018 and normalization of private sector”.
According to him, the GDP will rise 1% in Azerbaijan in 2018.
The ADB official welcomed positive tendency in non-oil sector.
He says the inflation will make up 14% in 2017, while previous forecast was 9%.
Related news releases
- 18.01.2018New department created in Ministry of Taxes
- 18.01.2018Azerbaijan to develop draft law on Investment activity
- 18.01.2018Central Bank of Azerbaijan to attract AZN 250M
- 18.01.2018Azer-Turk Bank ends 2017 on profit
- 17.01.2018Personal incomes rise more than 8% in Azerbaijan
- 17.01.2018Average exchange rate of manat for December announced
- 17.01.2018Average monthly salary increases 6.2% in Azerbaijan
- 17.01.2018Central Bank comments on refusal of floating exchange rate regime
- 17.01.2018Turanbank ends 2017 on loss
- 17.01.2018Demirbank’s foreign stakeholder comments on its closure
- 17.01.2018Azerbaijan Industry Corporation established
- 16.01.2018Anglo-Asian Mining owes $9M to Azerbaijani banks
- 16.01.2018Moody’s prepares capital scenario analysis for rated banks in Azerbaijan - EXCLUSIVE
- 16.01.2018Azerbaijan-based insurers ranking for payments growth rate
- 16.01.2018"Moody's": Weak players of Azerbaijan’s banking sector will exit - EXCLUSIVE
- 16.01.2018Azerbaijan-based insurers ranking for premiums growth rate
- 16.01.2018Moody’s: Further possible tightening of regulation could require additional recapitalization by banks in Azerbaijan - EXCLUSIVE
- 16.01.2018Moody’s: IBA restored capital position - EXCLUSIVE
- 16.01.2018Azerbaijan-based insurers ranking for market share of premiums
- 16.01.2018Azerbaijan-based insurers ranking for market share of payments
- 16.01.2018Azerbaijan-based insurers ranking for payment/premium ratio
- 16.01.2018Azerbaijan-based insurers ranking for payments
- 16.01.2018Azerbaijan-based insurers ranking for premiums
- 16.01.2018Insurance premiums amount to AZN 557M last year
- 16.01.2018Anglo Asian Mining’s shares double
- 15.01.2018More than $15M transferred from Azerbaijan to Georgia last year
- 15.01.2018Azerbaijan Industry Bank increases liabilities
- 15.01.2018Gala Life insurance company reveals 2017 financial performances
- 15.01.2018USD operations decline 1.8-fold in Azerbaijan
- 15.01.2018Azerbaijan sees decline in number of ATMs
- 15.01.2018Deposits in foreign currency decline in Azerbaijan
- 15.01.2018Azerbaijan sees rise in money supply in eleven months of 2017
- 15.01.2018Troubled loans make up 15.5% of provision of crediting
- 15.01.2018Azerbaijan-based banks see decline in total foreign assets
- 15.01.2018Azerbaijan sees rise in provision of crediting in 2017
- 15.01.2018Central Bank announces result of today’s auction
- 15.01.2018Retail trade turnover increases 2.5% in Azerbaijan last year
- 15.01.2018SCC transfers AZN 2.5B to state budget last year
- 15.01.2018Azerbaijan’s positive balance from foreign trade turnover in 2017 exceeds $5B
- 15.01.2018Monetary base decreases last year
- 04.10.2017IBA restructuring stabilized banking sector – ADB
- 04.10.2017President makes amendment in decree on SOFAZ budget for 2017
- 06.10.2017AMFA: Microfinance institutions see sharp decline in number of customers
- 04.10.2017Azerbaijan sees rise in September’s monetary base
- 04.10.2017CB currency reserves rise 30%
- 04.10.2017Azerbaijan-based banks see rise in deposit portfolio