IMF expecting Azerbaijan’s non-oil GDP to grow in next 2 years
Baku, Azerbaijan, May 2
By Azad Hasanli – Trend:
The International Monetary Fund (IMF) expects the non-oil GDP of Azerbaijan to grow by 0.6 percent in 2017, and by 2.2 percent – in 2018, according to the organization’s recent report, titled “Regional Economic Outlook: Middle East and Central Asia”.
According to the forecasts, Azerbaijan’s GDP will reach $38.6 billion in 2017 and will be $42 billion in 2018.
IMF experts believe that the Azerbaijani government’s revenues will account for 34.5 percent of the GDP in 2017 that is equal to approximately $13.3 billion, while expenditures will account for 45 percent of the GDP ($17.37 billion). Meanwhile, the Fund expects that Azerbaijan’s revenues will account for 37.1 percent of GDP ($15.58 billion) in 2017 and 34.4 percent of GDP ($14.45 billion) – in 2018.
Meanwhile, according to the IMF, Azerbaijan’s export will total $17.8 billion in 2017 and will increase up to $19 billion in 2018.
The report also says that the current account balance will be $0.6 billion and $1.6 billion, respectively, in 2017 and 2018.
The International Monetary Fund opened its office in Baku in 1992.