Negative trends in Azerbaijan’s economy declined - EBRD

  12 November 2016    Read: 1136
Negative trends in Azerbaijan’s economy declined - EBRD
Negative trend in Azerbaijan’s economy is declining, EBRd Chief Economist Sergei Guriev said.
Sharp decline in oil price has seriously affected Azerbaijan’s economy, he told: “However, the negative trend is declining. Exchange rate of national currency has stabilized a little. In 2017, an economic growth is expected in Azerbaijan”.

Remind that EBRD said in its latest review that in Azerbaijan a 3%-recession will be observed in 2016 and 1%-growth in 2017.

“In January-September, Azerbaijan’s GDP declined 3.9%. During the reporting period, the GDP on non-oil sector fell 6.1%. Inflation increased from 4% to 11.2% due to manat devaluation” said EBRD.

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