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IMF: Azerbaijanâ€™s GDP will reach $68 billion in 2009

21 October 2008 15:44 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijanâ€™s nominal GDP is predicted to grow to $53.3 billion in 2008 and to $68 million in 2009, said the October 2008 IMF Regional Economic Outlook: Middle East and Central Asia.
For 2008, IMF expects real GDP in the region to grow about 6Â½ percent. In 2009, growth is projected to continue at a slightly slower pace, around 6 percent.
The Regional Economic Outlook (REO) covers 30 countries, divided into three groups for analytical purposes: Oil exporters, low-income countries (LICs) and emerging markets1. For each of the three groups the REO presents key economic issues, and an assessment of growth prospects as well as policy challenges. In addition, the REO takes a closer look at topical issues related to individual countries or industries in the region.
Oil-exporting countries are expected to continue to expand in 2008 at about the same rate as in 2007, supported by oil prices that are still high relative to historical averages, and a pick-up in oil production compensating for a moderate slowdown in non-oil activity. However, growth is expected to decelerate to 6 percent in 2009 in the wake of the global slowdown and lower oil prices.
Real GDP growth in low-income countries is projected to slow somewhat in 2008 before rebounding in 2009, as the recent spike in food prices comes to an end. Emerging market countries are expected to experience solid growth throughout the current year, before easing in 2009 due to the global economic slowdown.
Inflation in the region is projected to rise to 15 percent in 2008, before easing somewhat in 2009 as world food prices drop. The main sources of inflationary pressures differ, however, across country groupings.

Oil exporters	Nominal GDP (In billions of U.S. dollars)
Oil exporters	2000-2004 (average)	2004	2005	2006	2007 (est)	2008-ci il (proj)	2009-cu il (proj)
Azerbaijan	6.6	8.7	13.2	20.9	31.2	53.3	68.0
Algeria	63.8	85.1	102.7	116.8	134.3	171.3	171.1
Bahrain	9.1	11.2	13.5	15.8	17.4	19.7	20.4
Iran	124.7	161.3	188.0	222.1	285.3	382.3	442.6
Iraq	...	25.8	31.4	49.5	62.4	91.6	96.8
Kazakhstan	27.8	43.0	57.4	80.3	105.9	141.2	157.3
Kuwait	43.6	59.4	80.8	98.7	111.5	159.7	163.2
Libya	30.8	33.3	45.5	55.1	69.9	108.5	112.3
Oman	21.3	24.8	30.9	35.7	40.4	56.3	59.8
Qatar	22.0	31.7	42.5	56.9	73.3	116.9	144.1
Saudi Arabia	205.3	250.7	315.8	356.6	381.9	528.3	568.9
Syria	22.3	25.0	28.6	34.9	39.0	44.5	45.7
Turkmenistan	9.3	14.2	17.2	21.4	26.2	22.0	25.7
United Arab Emirates	82.2	107.3	135.2	164.1	190.7	270.0	293.5
Subtotal	673.9	881.5	1102.6	1329.0	1569.4	2165.5	2369.4
Low-income countries
Afghanistan	4.6	5.4	6.5	7.7	9.6	12.8	15.2
Armenia	2.6	3.6	4.9	6.4	9.2	12.1	14.0
Djibouti	0.6	0.7	0.7	0.8	0.8	1.0	1.1
Georgia	3.8	5.1	6.4	7.8	10.2	13.3	14.0
Kyrgyzstan	1.7	2.2	2.5	2.8	3.7	5.0	6.1
Mauritania	1.2 1	1.5	1.9	2.7	2.8	3.6	4.1
Sudan	16.0	21.7	27.4	36.4	46.2	62.2	71.3
Tajikistan	1.4	2.1	2.3	2.8	3.7	4.8	5.5
Uzbekistan	11.4	12.0	14.3	17.0	22.3	26.6	32.2
Yemen	11.2	13.9	16.7	19.1	21.8	27.6	34.4
Subtotal	52.7	68.1	83.6	103.5	130.5	169.0	197.9
Emerging markets
Egypt	88.4	78.8	89.8	107.4	128.0	158.3	203.0
Jordan	9.7	11.4	12.6	14.1	15.8	19.1	21.7
Lebanon	18.8	21.5	21.6	22.8	24.6	28.0	30.9
Morocco	44.4	56.9	59.5	65.6	75.1	90.5	97.7
Pakistan	80.1	98.1	109.6	127.0	143.8	160.9	171.5
Tunis	22.7	28.3	29.0	31.0	35.0	41.8	43.9
Subtotal	264.3	295.0	322.1	367.8	422.3	498.5	568.7
*Total*	*990.9*	*1244.5*	*1508.3*	*1800.3*	*2122.3*	*2833.0*	*3136.0*