WB forecasts slight state expenditure growth in Azerbaijan

Photo: WB forecasts slight state expenditure growth in Azerbaijan  / Economy news

Baku, Azerbaijan, June 11

By Emin Aliyev - Trend:

Azerbaijan's state expenditure will grow by 2.2 percent in 2014, according to the WB report "Global Economic Prospects".

The growth rate of state expenditure will increase to 3 percent in Azerbaijan in 2015 and 2016, according to the WB forecasts.

The state budget expenditures decreased by 2.8 percent and amounted to 6.07 million manats (33.3 percent of GDP) in January-April, according to the Azerbaijani government. In total, the expenditures of the state budget are envisaged at the level of 20.06 billion manats in 2014.

WB also expects slight growth in consumer expenditure in the country in the coming years. Thus, personal consumer expenditure will grow by 10.2 percent in 2014, while by 10.3 and 10.7 percent respectively in 2015 and 2016.

Azerbaijani population bought consumer goods amounting to 6.586.3 billion manats in January-April 2014, which is 9.1 percent more than in the same period of last year.

The population bought goods worth 3.425 billion manats during the reporting period (2.1 percent growth compared to January-April 2013), non-food products - 3.161 billion manats (17.6 percent growth), according to the State Statistics Committee.

The official exchange rate is 0.7842 AZN/USD on June 11.

edited by CN

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