Baku, Azerbaijan, Sept. 23
By Azad Hasanli - Trend:
The Azerbaijani government expects 1.8 percent economic growth in the country in 2016, said the draft concept of socio-economic development for 2016 and the next three years, which was presented to the Milli Majlis (Parliament) of the country within the framework of the budget package.
The GDP growth rate increase is expected in the next three years: by 2.6 percent in 2017, by 3.6 percent in 2018 and by 5 percent in 2019.
In 2016, Azerbaijan's GDP will amount to 57.735.1 billion manats, according to forecasts. In the oil sector, production of value added is expected in the amount of 16.285.3 billion manats (a decrease of 1.7 percent), in the non-oil sector - 41.449.8 billion manats (an increase of 3.4 percent), according to the forecasts.
The share of private sector in GDP is projected at 82.2 percent.
"In general, it is planned to increase the share of non-oil sector in GDP and budget revenues, create financial security in order to raise the level of industrial production and the creation of enterprises in the non-oil sector in 2016-2019," the document said.
It is noted that the main priority of the non-oil sector development is the development of subspheres, which will be competitive on the world market.
"State support for production of non-oil products will be strengthened, new enterprises will be created and the reconstruction of the existing ones will be carried out," according to the draft concept.
Particular attention will be paid to the creation of the enterprises for processing of natural resources and agricultural products.
In 2016, the timely and full implementation of the tax revenues from medium and large enterprises, etc will be ensured in order to increase revenues from non-oil sector.
Inflation next year is projected at 0.8 percent, and the government expects decline in consumer prices during the next three years: in 2017, deflation is projected at 1.6 percent, in 2018 - 1.2 percent, while in 2019 - 1.8 percent.
|
Rates |
2017 |
2018 |
2019 |
|
GDP (billion manats) |
60.190,4 |
63.143,2 |
67.511,7 |
|
GDP real growth (%) |
2,6 |
3,6 |
5 |
|
Deflator (%) |
1,6 |
1,2 |
1,8 |
|
Private sector share in GDP (%) |
81,1 |
80 |
79,5 |
|
Oil sector (billion manats) |
15.940,5 |
16.103,2 |
17.348,5 |
|
Real growth (%) |
-2,4 |
0,3 |
4,9 |
|
Non-oil sector (billion manats) |
44.249,9 |
47.040 |
50.163,2 |
|
Real growth (%) |
4,6 |
4,8 |
5 |
The government forecasts 3.3 percent GDP growth and 6.2 percent inflation growth in 2015.
The official exchange rate for September 23 is 1.0485 AZN / USD
Ediited by CN