BAKU, Azerbaijan, June 12
By Zeyni Jafarov - Trend:
The State Statistical Committee of Azerbaijan disclosed the country's GDP for the first 5 months of 2021 this week, Trend reports.
According to the committee, the GDP increased by 0.8 percent compared to the same period of 2020 and reached 31.5 billion manat ($18.5 billion).
From January through May of this year, GDP per capita in Azerbaijan reached 3,150 manat ($1,853), with industry accounting for the largest share in GDP with 41.2 percent.
Meanwhile, the consumer price index (CPI) in the country grew by 4.2 percent.
Besides, according to the World Bank’s forecasts, South Caucasus will return to 3.6-percent-economic growth in 2021 and 4.2 percent in 2022, which has been stipulated by the easing of the COVID-19 pandemic shocks. Azerbaijan's GDP growth is projected at 2.8 percent in 2021, 3.9 percent in 2022, and 3.4 percent in 2023.
This week the Minister of Economy of Azerbaijan Mikayil Jabbarov and EBRD regional director for Caucasus Catarina Bjorlin Hans discussed the possibility of the Bank's participation in the restoration of Azerbaijani territories liberated from Armenian occupation in 2020.
They also exchanged views on private sector development and implementation of projects within Ganja Green City Program.
Azerbaijani manat rate strengthened compared to the euro and a growth in prices for gold and silver was observed this week.