S&P changes GDP growth forecast on Azerbaijan
Baku, Azerbaijan, Aug. 1
By Anvar Mammadov – Trend:
The US financial services company Standard & Poor's has revised its outlook for GDP growth in Azerbaijan.
The company’s analysts expect Azerbaijan’s GDP growth at 0.8 percent in 2017, three percent in 2018, four percent in 2019.
Previously, the forecast for GDP growth in Azerbaijan amounted to two percent in 2017, four percent in 2018, 4.5 percent in 2019.
In 2016 Azerbaijan's GDP will shrink by three percent, according to the company’s forecast.
The company’s analysts expect that the country's GDP will amount to 59 billion manats ($38 billion) in 2016, 64 billion manats ($41 billion) in 2017, 71 billion manats ($45 billion) in 2018 and 77 billion manats ($49 billion) in 2019.
The current account deficit of Azerbaijan will amount to 0.5 percent of GDP in 2016, but starting from 2017, the current operations account of Azerbaijan will be back in surplus, according to analysts of the company.
The surplus of Azerbaijan’s current account operations in 2017 will amount to 0.6 percent of GDP, in 2018 - 1.4 percent of GDP and in 2019 - 1.9 percent of GDP, according to the analysts of the S&P.
The GDP per capita in Azerbaijan will also grow: in 2016 it will amount to $3,900, in 2017 - $4,200, in 2018 - $4,600, and in 2019 - $4,900, according to forecasts of the company.
Also, the unemployment rate n Azerbaijan will gradually decline, and will drop from 5.5 percent in 2016 to five percent in 2019, according to the authors of the S&P report.