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Annual average growth rate in Azerbaijan to make 6.3% during next 4 years

22 November 2011 13:55 (UTC +04:00)

Baku. NIjat Mustafayev â€“ APA-Economics. Economic growth is expected to be 5.7% next year, 6.3% - by 2015, in Azerbaijan, said the Minister of Economic Development Shahin Mustafayev at the Parliament.

Minister said that, per head GDP would be increased from AZN 4,744 in 2012 to AZN 5,963 in 2015: â€œFor next year, exchange rate of manat against dollar is accepted as AZN 0.79 And inflation rate is forecasted to be 6%. Budget deficit/GDP ratio will be 1.3%, upper limit of external government debt â€“ AZN 2 bln. Oil prices were determined as $80/ a barrel next year, $75 / a barrel for next 3 yearsâ€.

Mustafayev says share of oil-sector in GDP will make 29.3% in 2015, while it was 48.5% in 2010 and the share of non-oil sector will increase from 44. 4% to 61.3%.

Economic growth will be 8.6% in 2012, 8% in next 3 years. Every measure will be taken and share of private sector in GDP will increase to 86.8% in 2015.