Real economic growth on Azerbaijan to make 1.8% next year

  14 September 2015    Read: 833
Real economic growth on Azerbaijan to make 1.8% next year
According to socio-economic development concept and forecasts of Azerbaijani Ministry of Economy and Industry for 2016 and next three years, real economic growth on Azerbaijan in 2016 will make 1.8%, GDP
According to Ministry of Finance, the GDP in non-oil sector was forecasted to make AZN 41.5 bln in 2016 or 3.4% more than current year.GDP in oil sector was forecasted to be AZN 16.3 bln or 1.7% less than 2015, up 10.8% from 2014’s fulfilment, 3% from 2015’s expectations. Share of GDP in private sector will make 82.2%.

Value added in services in 2016 will rise 39.8%. Tourist accommodation and catering services will grow 14.6%, transport and storehouse economy – 3.3% and information communication services – 13.5%.

Investment to be directed in fixed capital is predicted to make AZN 18.8 bln, of which 57.8% will make domestic investments, 42.2% - foreign investment.

AZN 10.8 bln of total investments will be directed to non-oil sector. Non-state investments will make AZN 11.0 bln (58.2% of total investments). Share of state investments in total investments are predicted to be AZN 7.9 bln or 41.8%.

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