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Azerbaijan's GDP for 2021 forecasted

Finance Materials 3 September 2020 17:52
Azerbaijan's GDP for 2021 forecasted

Baku, Azerbaijan, Sept.3

By Fidan Babayeva – Trend:

Azerbaijan is expected to produce gross domestic product (GDP) in the amount of 75.4 billion manats ($44.3 billion) in 2021, the Ministry of Finance said.

The ministry made the remark in its statement on the preliminary indicators of the state and consolidated budgets for 2021, Trend reports.

According to the ministry, 31.8 billion manats ($18.7 billion) will be produced in the service sector, 25 billion manats ($14.7 billion) - in industry, 5.7 billion manats ($3.3 billion) - in construction, 5.6 billion manats ($3.2 billion) - in the agricultural sector, and net taxes on products and imports will be 7.3 billion manats ($4.2 billion).

In 2021, the current account of the balance of payments of Azerbaijan is projected to have a deficit of 3.1 percent of GDP or nearly $1.4 billion.

The state budget expenditures for 2021 were set at 25.847 billion manats ($44.3 billion), and the price of one barrel of oil was set at $35.

(1 USD = 1.7 manat on Sept.3)

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