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Azerbaijani gov’t expecting GDP growth at 1% for 2017

Business Materials 29 September 2016 20:55 (UTC +04:00)
Azerbaijani government expects a real growth of the GDP at the level of 1 percent for 2017.
Azerbaijani gov’t expecting GDP growth at 1% for 2017

Baku, Azerbaijan, Sept. 29

By Azad Hasanli – Trend:

Azerbaijani government expects a real growth of the GDP at the level of 1 percent for 2017, according to the presentation of the state and consolidated budget projects for 2017 that was made public Sept. 29 by the country’s Finance Ministry.

The real growth of the non-oil GDP is forecasted at the level of 2.5 percent for 2017.

The GDP growth will continue in the next years and will be 2.8 percent by 2019 and will slightly decrease to 2.4 percent by 2020, according to the document.

GDP volume and its real growth for 2017-2020:

2017

2018

2019

2020

GDP, in million manats

61, 419.6

63,769.7

67,673.9

70,539

Real growth (%)

1

1.5

2.8

2.4

Non-oil GDP, in million manats

41, 677.5

44,135.3

46,135.9

48,588.3

Real growth (%)

2.5

2.6

1.7

2.8

As it is expected, the share of the private sector in GDP will be 82.8 percent in 2017.

It is expected that in 2017, 6.4 percent (four billion manats) of GDP will be generated in agriculture, forestry and fisheries, 36.2 percent (22.2 billion manats) - in industry, 9.9 percent (6.1 billion manats) - in construction, 39.6 percent (24.3 billion manats) - in the services sector, 7.8 percent (4.8 billion manats) - net taxes on production and imports.

The official exchange rate is 1.6252 AZN/USD on Sept. 29.

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