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Azerbaijan makes public macro economic forecasts for 2013

15 October 2012 11:46 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijanâ€™s GDP is forecasted to be AZN 56,066.2 mln in 2013, economic growth â€“ 5.3%, said the Ministry of Finance.

At the same time, the GDP is expected to be AZN 51,379.3 mln this year and economic growth â€“ 2.2%.

Share of private sector in GDP next year is foreseen to be 83.1% next year, 83.5% - in 2012, share of oil sector â€“ 38.6% and 43.4%. Note that, according to forecasts, oil GDP is expected to drop 2.9% next year, 4.5% - this year, non-oil GDP to rise 11.7% and 9.6%.

According to governmentâ€™s forecasts, population incomes in 2013 will increase by 9.1% to AZN 39,732.4 mln, in 2012 â€“ by 7.4% to AZN 34,458.8 mln. At the same time, populationâ€™s expenditures are expected to increase by 8.5% to AZN 28,496.1 mln in 2013, by 6.1% to AZN 24,842.2 mln in 2012. Average monthly salary in 2013 is forecasted to make AZN 440.3 or 3.9% upper than previous year, in 2012, to make AZN 41.7 or 5.7% upper from year earlier. At last, inflation is foreseen to be 5.7% in 2013, up 1 percentage point from 2012.

Besides, 2013â€™s oil extraction will be 43.2 mln tons, natural gas extraction â€“ 28.8 bcm. For comparison to note that, 2012â€™s forecasts are 42.9 bln tons and 27.1 bcm.