Azerbaijani gov’t forecasts economic growth by 2022

  24 October 2017    Read: 474
Azerbaijani gov’t forecasts economic growth by 2022

Azerbaijani government forecasts that the Gross Domestic Product will make AZN 68,164,700,000 in 2017.

According to the concept of socio-economic development and the forecast figures of Azerbaijan for 2018 and next 3 years, the real growth rate is forecasted at 0.3% this year.

The government says the share of private sector in GDP will be 84%.

The production is expected to decline 4.3% to AZN 24,280,400,000 in oil sector, rise 2.6% to AZN 43,884,300,000 in non-oil sector.

In 2018, the economic growth is expected to make up 1.5%. So, the GDP is forecasted to reach AZN 69,395,400,000 (AZN 21,764,900,000 in oil sector, AZN 47,630,500,000 in non-oil sector). Share of private sector in GDP will drop to 83%.

According to forecasts, the economic growth will be 4% in 2019, 3.7% in 2020 and 2.9% in 2021.

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