Ministry for Economic Development submitted preliminary version of macroeconomic forecasts for the year 2007 to the Cabinet of Ministers. Trend reports with reference to governmental officials that GDP growth dynamics remains stable, thus witnessing the reforms going on in the country. In 2007 GDP is anticipated to amount AZN 21.4bn against 2006 estimate of AZN 16.3bn.
GDP growth rates are linked to governmental sector progressing. Forecasts say fraction of private sector in GDP is totaling 79% in 2007, while totals for 2006 show the index equal to 77%. Actual growth of industry this year is predicted to be 50%, in 2007 43.5%, and that of agriculture 9.5% (14% in 2007).
Investments for he year 2006 are predicted to amount 5.9bn manat. Meanwhile, reduction of foreign investments fraction in total volume of investments is anticipated. If foreign investments in 2006 are expected to amount 3.5bn manat, in 2007 they will fall to 2.6bn at total amount of capital investments 5.5bn manat. This fact is linked to reduction of investments in already operated oil and gas projects. Alongside, increase of internal investments is being observed.
All operations performed will influence the amount of monthly pensions and salaries, as well as the populations revenues in general. Average monthly salary in individual branches of economy is expected to rise this year by 32.3% and amount 156.1 manat and next year 195.1 manat.