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WB: Economic growth to exceed 4% in Azerbaijan in 2013

Business Materials 16 January 2013 20:54
The World Bank (WB) expects GDP growth in Azerbaijan to reach 4.2% in 2013.
WB: Economic growth to exceed 4% in Azerbaijan in 2013

Azerbaijan, Baku, Jan. 16 / Trend A. Akhundov /

The World Bank (WB) expects GDP growth in Azerbaijan to reach 4.2% in 2013.
This is stated in the WB report "Global Economic Prospects" on Wednesday.

The WB forecasts GDP growth in Azerbaijan in 2012 at 2%, whereas according to the State Statistics Committee, the economy grew by 2.2% in 2012.

The WB expects gross production to increase by 3.7% in Azerbaijan in 2014 and 3.6% in 2015.

According to WB forecasts, the ratio of the current account surplus to GDP is expected to reach 12.4% in 2013, 11.4% in 2014, and 9.9% in 2015. According to the WB, the ratio will hit 15.5% in 2012.

GDP growth in Azerbaijan was formed entirely through the non-oil sector in 2012, as was the case in the previous year. The growth of the non-oil sector in 2012 was 9.7%, the share in GDP rose to 52.7%.

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