Azerbaijan Economic Forecast
January 8, 2019Recent data suggests that growth strengthened in November, after a lackluster start to the fourth quarter. Economic activity picked up pace bolstered by accelerating growth in the non-oil sector. Despite improving somewhat over the past year, the energy sector remained battered with oil prices falling sharply at the end of 2018. Although oil production picked up modestly in November, according to the energy minister, the rise will likely be short-lived after Azerbaijan agreed to limit oil production in December, along with OPEC and Russia’s output quotas. That said, some analysts doubt if Azerbaijan will meet their obligations to the deal.
Azerbaijan Economic GrowthGrowth is seen picking up this year, thanks to a recovery in the energy sector and solid government spending. However, risks to Azerbaijan’s outlook linger from lower-than-expected commodity prices or a pronounced downturn in Russia’s economy. Met the why particular panelists see GDP expanding 2.1% in 2019, unchanged from last month’s forecast. In 2020, GDP is seen growing 2.5%.
Azerbaijan Economy Data
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|Exchange Rate||1.70||-0.66 %||Jan 21|
|Stock Market||0.1||0.0 %||Jan 21|
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