Azerbaijan makes public macro economic forecasts for 2013

Azerbaijan makes public macro economic forecasts for 2013
# 15 October 2012 11:46 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Azerbaijan’s GDP is forecasted to be AZN 56,066.2 mln in 2013, economic growth – 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 – 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 – 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 government’s forecasts, population incomes in 2013 will increase by 9.1% to AZN 39,732.4 mln, in 2012 – by 7.4% to AZN 34,458.8 mln. At the same time, population’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, 2013’s oil extraction will be 43.2 mln tons, natural gas extraction – 28.8 bcm. For comparison to note that, 2012’s forecasts are 42.9 bln tons and 27.1 bcm.
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