The European Bank for Reconstruction and Development (EBRD) did not change its forecast of Azerbaijan GDP growth in 2014 and it remained 3.5%, reads the EBRD report Regional Economic Perspectives in EBRD Operating Countries.
The report was released in October 2013. In 2013 real GDP growth in Azerbaijan constituted 5.8%, GDP growth in the non-oil sector – 9.8%. During 2013 the country’s GDP increased up to 57 billion AZN.—0—
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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