ADB increases forecast on Azerbaijan’s economic development rate

ADB increases forecast on Azerbaijan’s economic development rate
# 19 April 2011 09:25 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Asian Development Bank forecasts that economic development rate of Azerbaijan for 2011-2012 will be at the same level.

According to economist of ADB’s representation in Azerbaijan Nail Valiyev, GDP growth rate in Azerbaijan will make 5.8% in 2011-2012, in accordance to ADB’s forecasts.

Remind that, the bank forecasted the economic growth rate to be 3.5% in Azerbaijan, before.

The increase of growth is related to finding of new oil–gas fields. At the same time, non-oil sector will also support the GDP growth.
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