What to expect from the economy?

Forecasts of the Government of Azerbaijan and the European Bank for Reconstruction and Development (EBRD) on the growth of local GDP by the end of the year, almost the same. Bank indicates 2% mark, the government optimistic by 0.2 points.

Given that the overall economic growth in the past year was 0.1%, the difference in the assumptions of the international financial organizations and the executive branch considerable. By the way, in July of this year, the bank is talking about 2.5% of the projected growth.

The report found that the rate of decline in oil production influences, and it is another proof of the local economy totally dependent on energy. Compensation will not decline in the oil sector; this segment is negligible and is associated with the investment projects from the state budget. According to the report, is becoming increasingly urgent to diversify the economy, because the risks associated with high dependence on oil, the crisis period (relative decline in world oil prices) became apparent.

The neighbors in the region projected GDP growth above. For example, in Armenia in 2012 is expected to be taken in a 5% mark in the next year - 4%, and in Georgia this year, 6.5% next year - 5%.

As the method of calculation is different, the International Monetary Fund (IMF) expects 3.9% growth in the Azerbaijani economy and 2.7% next year. Expectations of the World Bank (WB) are, respectively, 3.1 and 3%. The Asian Development Bank forecasts GDP growth in Azerbaijan by 3% in 2012 and by 3.5% in 2013.

The government expects economic growth to top 2.2% in January, next year - 5.3%. - 17D-