Bank Of Baku

CIS area sees an 11% year-on-year drop in GDP

CIS area sees an 11% year-on-year drop in GDP
# 03 March 2009 14:42 (UTC +04:00)
Baku. Vahab Rzayev – APA-ECONOMICS. GDP plunged by 11%, year-on-year, in the CIS countries during January, the CIS Statistical Committee said in a report.
According to the report, only three of 7 countries (except Georgia, Moldova, Ukraine, Uzbekistan and Turkmenistan) saw a slight rise in GDP while other economies saw downward trends.

Country

GDP growth
(As compared to January 2008)

Belarus

+ 4,2%

Kyrgyzstan

+ 3,7%

Tajikistan

+ 3,5%

Armenia

- 0,7%

Azerbaijan

- 2,6%

Kazakhstan

- 2,9%

Russia

- 12,5%


The report said that most economies in the former USSR area went down as a result of the global financial crisis.




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