UN forecasts 4-percent GDP growth in Azerbaijan in 2012
Azerbaijan, Baku, Jan. 18 / Trend A. Akhundov /
UN predicts an increase in Azerbaijan's real GDP by 4 percent in 2012, the data indicated in the organization's report "World Economic Situation and Prospects 2012" said. The main economic report was published on the UN website on Wednesday.
According to the information, UN predicts Belarusian real GDP growth this year at 1 percent, Moldova - 3.9 percent, Russia - 3.9 percent, Ukraine - 3.8 percent.
According to the organization's forecast, Azerbaijan's GDP continues increasing in 2013. Its annual growth will hit 3.9 percent.
"High economic growth rates achieved ahead of the 2008 recession have yet to return to
the Commonwealth of Independent States (CIS) and Georgia," the report said. "The aggregate growth for the CIS, is expected to decelerate to 4.0 per cent in 2012 before accelerating somewhat in 2013 as demand from developed economies eventually strengthens."
The report says that economic activity expanded in the CIS in 2011, although growth was subdued in comparison to the faster pace observed prior to 2008. Aggregate gross domestic product (GDP) in the region rose by about 4.3 per cent in 2011, compared to 4.5 per cent in 2010, with the Russian Federation remaining the major force of economic dynamism in the CIS region. Growth will, however, weaken in the outlook due to the deterioration of the global economic situation, particularly in developed economies, and the resulting decline in commodity exports and commodity prices.