TODAY.AZ / Business

IMF predicts account surplus in Azerbaijan

16 October 2017 [14:49] - TODAY.AZ

By Azernews


By Sara Israfilbayova

Azerbaijan's GDP could reach 98.91 billion manats ($58.17 billion) in 2022.

This year the country's GDP will amount to 66.652 billion manats ($39.20 billion), according to statistics released by the International Monetary Fund (IMF).

Thus, for five years the country’s economy will grow by 48.4 percent.

Forecasts of the IMF on Azerbaijan’s GDP:

Azerbaijan's GDP

2017 

2018 

2019 

2020 

2021 

2022 

billion manats

66,652

72,783

78,542

84,675

91,315

98,91

billion dollars

39,207

42,813

46,201

49,809

53,715

58,182

percent

-1,04

1,287

2,971

2,61

2,96

3,1

 

Moreover, the statistics reads that Azerbaijan's state budget revenues in 2018 are expected to reach 26.242 billion manats ($15.43 billion), and expenses - 25.740 billion manats ($1514 billion).

Thus, the state budget surplus will amount to 502 million manats ($295.24 million).

The IMF forecasts a deficit of the state budget in 2017 in the amount of 211 million manats ($124.1 million) (with incomes in the amount of 25.207 billion manats ($120.69 billion), expenditures - 25.418 billion manats ($14.95 billion)).

The fund's forecasts are more optimistic than the expectations of the Azerbaijani government. This year, the government approved revenues of the state budget in the amount of 16.766 billion manats ($9.86 billion), and expenses - 17.941 billion manats ($10.55 billion). As a result, the government expects a deficit in the amount of 725 million manats ($426.4 million).

Expectations of the IMF on incomes and expenditures of the state budget of Azerbaijan until 2022 (in billions of manats):

 

2017

2018

2019

2020

2021

2022

Incomes

25,207

26,242

28,129

29,952

31,299

32,1

From GDP (%)

37,8

36,06

35,8

35,37

34,3

32,45

Incomes

25,418

25,74

27,721

29,893

31,874

33,919

From GDP (%)

38,1

35,366

35,295

35,303

34,905

34,292

The IMF is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.

The IMF's responsibilities: The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other.  

Azerbaijan joined the Fund on September 18, 1992.

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