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Official forecast: Economic growth in Azerbaijan will be 5.2% next year

07 October 2013 14:51 (UTC +04:00)

According to forecasts, the GDP for oil sector will drop 1.5%, for non-oil sector – increase by 10.0%. Share of non-ol sector in GDP is forecasted to be 61.5%, private sector – 83.2%.

Personal incomes will make AZN 42.277 bln or 6.4% from 2013’s forecast, population’s expenditures – AZN 29.244 bln (+5.7%), average monthly salary – AZN 479.4 (5.4%), inflation – 3.5%. At the same time, AZN 18.4 bln (+2.9%) is expected to be invested in Azerbaijan’s economy in 2014. Of this, AZN 9.7 bln or 52.7% falls to share of state investments. In addition, $ 30.7 bln-goods are expected to be exported, $ 11.5 bln – be imported.

In accordance with the mid-term forecasts, the economic growth will be 5.8% in 2015, 4.8% - in 2016 and 6.0% - in 2017. At the same time, oil sector is forecasted to increase by 2.1% in 2015, decrease by 3.2% in 2016 and increase by 1.5% in 2017. Economic growth for non-oil sector is forecasted to be 8.1% in 2015, 8.6% in 2016 and 7.8% in 2017.