Last week review (June 8-12)

Analysis Materials 16 June 2015 18:08 (UTC +04:00)

June 8

IMF improves economic growth outlook in Azerbaijan

The International Monetary Fund (IMF) has improved the economic growth outlook in Azerbaijan for 2015, the head of IMF mission on Azerbaijan Raja Almarzoqi said at the press conference. Thus, the IMF expects a 1.8 percent GDP growth in Azerbaijan.
In April forecast, the IMF expected a 0.6 percent economic growth in the country for 2015.

Almarzoqi said that the change of the forecast is due to the economic growth achieved by Azerbaijan in January-April 2015.

"After the devaluation, we forecasted a 0.6 percent GDP growth, but during our visit to the country we saw that the non-oil sector grew by 6.5 percent in January-April 2015," he said. "At the same time, we realized that the economic growth would be higher than expected."

June 10

Azerbaijan's Nakhchivan ready to provide guarantees for Iranian investors

Nakhchivan Autonomous Republic of Azerbaijan is ready to provide guarantees for Iranian investors, Vasif Talibov, chairman of the Supreme Majlis of Nakhchivan Autonomous Republic said. He made the remarks during the meeting with the governor of Iran's East Azerbaijan province Esmail Jabbarzadeh in Iran.

During the meeting with the province's governor, Talibov said that Azerbaijani businessmen are interested in making investments in Iran, including in Aras free economic and industrial zone.

June 12

Gas from Iran, Iraq and Israel can be supplied to Europe via Southern Gas Corridor

The gas is planned to be supplied from Iran, Iraq and Israel to Europe via the Southern Gas Corridor, Azerbaijani Minister of Energy Natig Aliyev said. Aliyev made this statement at a meeting with Eldar Saetre, new President and Chief Executive Officer of Norwegian Statoil ASA, during his visit to Baku. The minister said that the Southern Gas Corridor will improve gas supply of Europe.