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IMF expects Azerbaijan’s non-oil GDP to jump

2 May 2017 18:09 (UTC+04:00)
IMF expects Azerbaijan’s non-oil GDP to jump

By Trend

The International Monetary Fund (IMF) expects the non-oil GDP of Azerbaijan to grow by 0.6 percent in 2017, and by 2.2 percent – in 2018, according to the organization’s recent report, titled “Regional Economic Outlook: Middle East and Central Asia”.

Azerbaijan’s GDP will reach $38.6 billion in 2017 and will be $42 billion in 2018, according to IMF specialists.

The IMF experts believe that the Azerbaijani government’s revenues will account for 34.5 percent of the GDP in 2017 that is equal to approximately $13.3 billion, while expenditures will account for 45 percent of the GDP ($17.37 billion).

Meanwhile, the Fund expects that Azerbaijan’s revenues will account for 37.1 percent of GDP ($15.58 billion) in 2017 and 34.4 percent of GDP ($14.45 billion) – in 2018.

Azerbaijan’s export will total $17.8 billion in 2017 and will increase up to $19 billion in 2018.

The report also says that the current account balance will be $0.6 billion and $1.6 billion, respectively, in 2017 and 2018.

The International Monetary Fund opened its office in Baku in 1992.

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