Baku – APA-Economics. The Asian Development Bank has completed updating Asian Development Outlook 2014 (ADO), noting that the global economic storms and cataclysms do not affect the economic growth of Azerbaijan.
The process of ADO updating the Bank retained GDP growth forecast for the country (5% in 2014 and 4.8% in 2015) and pace of inflation (4% and 3.5%, respectively).
“In the first half of 2014, the GDP growth made 2.1% due to reduction of oil production. At the same time, GDP growth in non oil-sector made 7% in the first half of 2014, while it was 10.9% previous year. This is caused by decline of state investments”.
However, retaining the economic growth at 5% is caused by forecasting of increase of production in Azeri-Chirag-Guneshli fields and increase of investments after development of regions.
Moreover, the forecast on payment surplus also remained unchanged at 16% of GDP this year and 15% next year.
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