IMF raises forecast for Azerbaijan's economic growth
Azerbaijan, Baku, Oct. 25 / Trend N.Ismayilova /
The forecast of the International Monetary Fund (IMF) in terms of nominal GDP of Azerbaijan in 2010 is $52.2 billion, the report "Middle East and Central Asia: Regional Economic Outlook", posted on the official website of the IMF, said.
The forecast of nominal GDP for 2011 is $57.9 billion. According to the IMF data, this figure amounted to 43.1 billion manat in 2009.
According to the IMF forecasts, the growth of non-oil GDP in 2010 will reach 5.6 percent, in 2011 - 5 percent. The growth of non-oil GDP hit 3 percent in 2009.
The growth of oil GDP in Azerbaijan in 2010 will hit 3 percent. According to the IMF forecasts, it is expected to decline by 1.3 percent in 2011. There was a 14.8 percent increase of this figure in 2009.
IMF expects oil production in Azerbaijan in 2010 and 2011 to hit 1 million barrels per day. The export of crude oil in 2010 and 2011 is expected to reach 0.9 million barrels per day.
The Monetary Fund raised its forecast for real GDP growth of Azerbaijan in 2010 up to 4.3 percent compared to the previously forecasted 2.7 percent. The forecast of GDP growth for 2011 was increased from 0.6 percent to 1.8 percent and from 0,7 to 0,9 percent for 2015.
The Asian Development Bank (
ADB) forecasted the GDP growth for Azerbaijan at 3.8 percent in 2010 and 3.5 percent - in 2011.
According to the Azerbaijani State Statistics Committee, the country's GDP growth was 9.3 percent in 2009. The government expects the figure to amount to 6.8 percent in 2010.