Production of gross domestic product in Azerbaijan for eight months of this year amounted to 36 billion manats, which is in nominal terms by 3.1 billion manats, or 8% less than in the comparable period in 2014.
At the same time, the State Statistics Committee argues that stable prices the economy grew by 4.2%.
In contrast to the manufacturing sector (19.6 billion manats), which was recorded nominal decrease (17.9%), in the services sector (13.57 billion manats), according to estimates of SSC, growth was achieved at the level of 10.2 %.
According to the SSC, in January - August the oil GDP totaled 11.4 billion manats (-0.1%). The nominal oil GDP declined by 5.1 billion manats.
The non-oil-gas sector accounted for 68.3% of GDP since the beginning of the year. The increase amounted to 7.3% of stable prices.
This year the government forecasts GDP production at 57.2 billion manats. Real growth should reach 3.3%. Thus, in 2014 the GDP was announced at the level of 59 billion manats.
In 2016, the government forecasts GDP at 57.7 billion manats. ---08D
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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