ADB improves forecast for GDP growth in Azerbaijan in 2013
Azerbaijan, Baku, October 2/ Trend E. Aliyev /
The Asian Development Bank (ADB) has revised its forecast for GDP growth in Azerbaijan in 2013 and increased it, the updated report of Asian Development Outlook, released by the bank on Wednesday said.
According to the document, the bank expects that in 2013, GDP growth of the country will amount to four percent compared to 3.1 percent, stated in the previous forecast.
For the next year, the ADB forecast left unchanged this indicator, expecting the economic growth in the country at 4.8 percent.
At the same time, the bank's analysts lowered the forecast for the development of the Central Asian region, which includes Azerbaijan as well, from 5.5 to 5.4 percent, due to slower development of the economies of Kazakhstan and Georgia.
Established in 1966, ABD consists of 67 members. The ADB Headquarters is located in Manila, Philippines. Azerbaijan was granted membership on December 22, 1999, the country's share of the bank amounts to 0.5 percent.
The ADB's leading shareholders are Japan and the US (31.2 per cent of the total share capital), India and China (12.8 percent), and Australia, South Korea and Canada (16 percent).