TODAY.AZ / Business

IMF preicts 5% growth for Azerbaijan's GDP

09 April 2014 [18:30] - TODAY.AZ
By AzerNews

The International Monetary Fund (IMF) forecasts Azerbaijan's GDP to grow by 5 percent in 2014 and by 4.6 percent in 2015.

This was noted in IMF's World Economic Outlook report on the prospects for development of world economy, published on April 9.

Azerbaijan's economic growth is expected to be at the level of 3.48 percent in 2016, 3.22 percent in 2017, 3.98 percent in 2018 and 4.23 percent in 2019, IMF said.

The organization also said Azerbaijan's GDP at the current prices will amount to 61.6 billion manats ($79.36 billion) in 2014, 67.47 billion manats ($87.76 billion) in 2015, 72.7 billion manats ($94.57 billion) in 2016, 79.77 billion manats ($103.76 billion) in 2017, 86.13 billion manats ($112.03 billion) in 2018 and 93.87 billion manats ($122.1 billion) in 2019.

Azerbaijan's GDP amounted to 57.71 billion manats or $73.54 billion in 2013.

The IMF forecasts Azerbaijan's GDP per capita to grow from 6,199 manats ($7,899) in 2013 to 6,568 manats ($8,457) in 2014, to 7,133 manats ($9,278) in 2015, to 7,626 manats ($9,919) in 2016, to 8,300 manats ($10,797) in 2017, to 8,890 manats ($11,564) in 2018 and 9,613 manats ($12,503) in 2019.

Earlier, the European Bank for Reconstruction and Development (EBRD) predicted Azerbaijan's GDP will be 3.5 percent in 2014. The World Bank predicts Azerbaijan's potential GDP growth at 6.6 percent while the Azerbaijani government forecasts the GDP growth at 4.7 percent in 2014.

The real GDP growth in Azerbaijan amounted to 5.8 percent in 2013. The country's GDP in 2013 increased up to 57 billion manats.

Azerbaijan has cooperated with the IMF since September 18, 1992. IMF loans were allocated to Azerbaijan within six programs, but cooperation with the IMF has been at the level of consultation since 2005, as the Azerbaijani government has refused to receive loans from the fund.

The IMF office opened in Baku in 1992. Although its staff has been reduced since 2009, it has remained an important partner for the Azerbaijani government. It is noteworthy that cooperation between Azerbaijan and the IMF played an important role during the global economic and financial crisis.
URL: http://www.today.az/news/business/132529.html

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