Azerbaijan Economic Forecast
April 2, 2019Growth picked up at the year’s outset, with oil production accelerating markedly over the same period of last year in January–February. Recently-released data revealed that the economy exported 50% more oil in January–February compared to the same period of 2018. Among non-oil activities, the information and communication services sector expanded at the fastest pace, while agricultural and industrial output also grew robustly over this period. The retail sector’s upturn, however, was more moderate. Adding to the slew of positive data, public finances also strengthened in January, as increased revenues from custom duties, VAT, and a road tax boosted the government’s coffers, swinging the budget to surplus.
Azerbaijan Economic GrowthThe economy is expected to pick up this year, thanks to solid domestic dynamics and a gradual recovery in investment on rising investor confidence. Downside risks to the outlook, however, stem from the increasingly challenging global backdrop and a fall in commodity prices. Met the why particular panelists see GDP expanding 2.0% in 2019, which is up 0.1 percentage points from last month’s forecast, and 2.2% in 2020.
Azerbaijan Economy Data
5 years of Azerbaijan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.71||-0.66 %||Apr 12|
|Stock Market||0.1||0.0 %||Apr 12|
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