Azerbaijan to lead for GDP growth rate in 2010: WB

Business Materials 23 June 2009 18:46 (UTC +04:00)

Azerbaijan, Baku, June 23 / Trend , N. Ismayilova/

According to the World Bank estimations, Azerbaijan's GDP growth rates will total 3.3 percent in 2009 and the country will rank second to Uzbekistan (growth of 4.5 percent) among European and Central Asian countries, the World Bank report said.  

The bank estimates Azerbaijan's GDP growth at 5.2 percent in 2010 which is the highest indicator in the region and 9-percent growth in 2011. Azerbaijan's GDO growth rate was 10.8 percent in 2008.

The World Bank predicts a decrease of global GDP growth to 2 percent in 2010 and 3.2 per cent in 2011. The growth in developing economies will be 1.2 percent, which does not correspond to growth rate registered in 2007 - 8.1 per cent and 5.9 per cent in 2008.

International Monetary Fund predicts country's growth in the non-oil sector to be 4 percent in 2009 and 1 percent in non-oil sector, which means an average growth of 2.5 percent.

Azerbaijani government forecasts GDP growth rate at 18.9 percent in 2009. Total production in GDP is expected to be 43.6 billion manat.

The GDP growth is expected to decline in the coming three years and total 6.6 percent in 2010, 4.5 percent in 2011 and 2.4 per cent in 2012.

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