WB: Azerbaijan's GDP grows by 3%

  21 November 2019    Read: 1081
  WB: Azerbaijan

Azerbaijan’s GDP grew by around three percent in September 2019 compared to September 2018, AzVision.az reports on Nov. 21 referring to the WB’s report.

“Azerbaijan’s GDP increased by 2.5 percent in the first three quarters of 2019 compared to the same period of 2018,” the report said. “The non-hydrocarbon sector growth reached 3.5 percent year-on-year in the nine months of 2019, while growth in the hydrocarbon sector moderated to 1.1 percent.”

“Agriculture performed particularly well in September, bringing the year-to-date growth rate to 7.1 percent,” the WB’s report said. “Consumption was bolstered by 6.5 percent growth in real wages, particularly in the public sector, and employment growth.”

“Food prices increased by 5 percent year-on-year in September,” the report said. “As a result, CPI inflation inched up to 2.6 percent year-on-year in September, well below the central bank’s target of 4±2 percent.”

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