Economic growth gradually accelerating in Azerbaijan - Gazprombank

Finance Materials 7 August 2021 12:11 (UTC +04:00)
Economic growth gradually accelerating in Azerbaijan - Gazprombank

BAKU, Azerbaijan, Aug. 7

By Zeyni Jafarov - Trend:

The development of Azerbaijani economy is being gradually accelerated, Gulnara Khaidarshina, deputy head of the research department of Russian Gazprombank, told Trend.

“The rapid vaccination process against COVID-19 globally and the gradual easing of quarantine regime restrictions in the leading economic countries are driving up commodity prices,” Khaidarshina said.

"The abolition of the internal quarantine regime restrictions revived the deferred consumer demand in Azerbaijan and the growth of the Azerbaijani economy recovered up to 2.1 percent following the first half of the year," deputy head of the department added.

During the reporting period, the non-oil sector of the Azerbaijani economy grew by 5.1 percent, the non-oil industry and agriculture - by 16.8 percent and 5.7 percent, respectively.

Khaidarshina added that the retention of the refinancing rate by the Central Bank of Azerbaijan at 6.25 percent has been stipulated by both the acceleration of inflation rate, but keeping it within the target range.


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