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WB changes outlook on Azerbaijan

13 October 2014 11:02 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. The World Bank has changed its outlook on Azerbaijan’s GDP. It forecasts the economic growth to be 4.5% in 2014.

Bank experts say that the economic growth in European and Central Asian countries will be low, GDP is expected to make 1.8%. According to WB calculations, this index will increase to 2.1% in 2015.

According to them, the economic growth in Turkmenistan will be high, GDP – 10.4%. According to results of 2014, only Ukraine will face 8%-decline in GDP.

Russian economic growth will make 0.5%, Armenia 3%, Georgia 5.5%.

According to the WB evaluation, geopolitical tension, importance of structural reforms, weak budget policy, high external debt, financial problems cause delay in economic growth.

Azerbaijan forecasts GDP growth at 3.4%. Economic growth in Azerbaijan was 5.8% in 2013.