IMF changes outlook on GDP growth for 2015 in Azerbaijan

Fri 23 January 2015 09:35 GMT | 13:35 Local Time

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International Monetary Fund forecasts GDP growth in Azerbaijan to be at 2.2% in 2015, APA reports.

In 2014, IMF forecasted GDP growth for 2015 to make 4.3%.
 
Fund forecasts GDP growth in 2016 to ba 2.5%.
 
According to IMF calculations, nominal volume of the GDP in 2015 and 2016 will relevantly make AZN 78.1 bln and AZN 82.6 bln.
 
According to forecasts, GDP growth in oil sector of Azerbaijan will be 4.1% in 2015, 4% in 2016. Along with this, oil sector is expected to decline 0.9% this year. Fund expects no growth in oil sector in 2016.  
 
Inflation will make 2% this year, while it was forecasting in October the inflation to be at 3%.  
 
According to IMF, the balance of payments will make AZN 2.5 bln or 3.2% of GDP in 2015, AZN 2.1 bln or 2.6% in 2016.
 
Azerbaijani government predicts GDP to rise 4.4%.
 
In 2014, the economic growth made 2.8%.

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