Baku, Azerbaijan, Sept. 10
By Azad Hasanli - Trend:
The World Bank expects 2 percent growth of Azerbaijan's economy in the current year, WB's Baku office told Trend.
"This is a preliminary forecast made on the basis of the recent studies," the statement said.
WB forecasted 1.5 percent GDP growth in Azerbaijan in the June report "Global Economic Prospects".
"We have revised our forecast upward because Azerbaijan's economy showed unexpected growth by more than five percent in the first half of 2015," a WB representative said.
According to the State Statistics Committee, the total volume of Azerbaijani GDP in the first half of 2015 amounted to 26.3 billion manat or by 5.7 percent more than in the same period of last year.
The non-oil sector of the economy increased by 9.2 percent during the six months compared to the same period of last year and its share in the country's GDP was 66.9 percent.
The volume of production of value added in the oil and gas production and processing amounted to 33.1 percent of GDP or by 1.3 percent more compared to the same period of last year.
Azerbaijan joined the WB in 1992.
The official exchange rate is 1.0483 AZN/USD Sept. 9.
Edited by CN