There is no economic growth - an expert

Baku / 09.10.17 / Turan: Economic expert Nemat Aliyev does not share the statements of officials on improving the social and economic situation in Azerbaijan in 2017. According to him, in the first 3-4 months, a slight increase in GDP was noted. However, in subsequent months, GDP began to decline.

"Not good" he called the situation with the foreign trade turnover, which since July began to decrease by 7%, and in August by 9%. According to the results of the year, GDP may fall even more, he believes.

The most disturbing expert called the reduction in foreign trade income in foreign currency by 30%.

In the oil industry, oil production is falling. Over eight months the decline in production was 2.4 million tons. Until the end of the year, the fall could reach 4 million tons, and this is a serious loss.

Expert Aliyev also expressed the opinion that the investment climate in the country is still not attractive and many entrepreneurs are withdrawing their capital from the country.

As for the rate for the development of cotton growing, it does not justify itself yet. The reduction in forage crops negatively affected livestock production and caused a rise in meat prices.

According to the expert, the well-being of the population continues to deteriorate. While inflation averaged 14%, the income growth of the population increased by only 6-7%.

According to the economist, in order to achieve real results, cardinal reforms are needed, which are not yet anticipated. -05B06--