Moody’s expects economy to grow 1.5% in Azerbaijan in 2018

Mon 12 Feb 2018 06:43 GMT | 10:43 Local Time

Text size: bigger smaller

The rebound in oil prices since early 2017 has contributed to a stabilization in Azerbaijan's economy, Moody’s said in its report.

‘We expect the economy to return to growth in 2018, expanding 1.5% after 0.1% growth in 2017 (based on preliminary estimates) and a 3.1% contraction in 2016. We also expect the fiscal balance to return to a surplus of 1.0% of GDP this year, after three consecutive years of deficits. Combined with positive nominal GDP growth, the fiscal surplus will help stabilize the debt burden. However, we do not expect debt to reverse to any significant degree over the near term because the government is likely to extend additional guarantees to catalyze infrastructure investment’, the agency said.




Most read articles

More from Economy

In The Region

Editor's Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook

Real estate

Virtual karabakh