Azerbaijan Economic Forecast
July 3, 2018The economy continued advancing at a lackluster pace in the January–May period: Annual GDP growth came in at 1.1%, marginally below the 1.2% recorded in the first four months of the year, owing to a sluggish oil sector. In this period, the non-oil sector continued to outperform the oil sector. On 12 June, President Ilham Aliyev and Turkish President Recep Tayyip Erdogan inaugurated the long-awaited Trans-Anatolian Natural Gas Pipeline. The project marks an important strategic milestone for the country as it will carry gas from Azerbaijan’s Shah Deniz II field to Europe for the first time and is expected to be a huge boon for the oil sector and the wider economy.
Azerbaijan Economic GrowthThis year, the economy is expected to accelerate markedly thanks to an anticipated rebound in industrial production, higher oil prices, and a recovery in private consumption aided by subdued inflationary pressures. Met the why particular panelists see GDP expanding 1.8% in 2018, up 0.1 percentage points from last month’s estimate, and 2.4% in 2019.
Azerbaijan Economy Data
5 years of Azerbaijan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.70||-0.66 %||Jul 17|
|Stock Market||0.1||0.0 %||Jul 17|
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