Azernews.Az

By Sara Israfilbayova

This year Azerbaijan’s GDP is expected to reach $45.5 billion, while in 2019 - $47.9 billion, IMF analysts say.

In 2019, Azerbaijan’s revenues are expected to hit 39 percent of GDP ($18.68 billion), and expenditures - 37.8 percent of GDP ($18.1 billion), according to the report “Regional Economic Outlook: Middle East and Central Asia Update”.

IMF analysts forecast the revenues of Azerbaijan to make up 38 percent of GDP in 2018, which is about $17.3 billion, and expenditures - 36.6 percent of GDP ($16.65 billion).

The report reads that Azerbaijan’s exports in 2018 will amount to $22.4 billion, and in 2019 will increase to $23.6 billion.

Moreover, the IMF expects growth of Azerbaijan’s non-oil GDP by 4 percent in 2018, and by 3.2 percent in 2019.

The IMF, created in 1945, is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.

The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other.

Azerbaijan joined the Fund on September 18, 1992.

Azerbaijan received IMF loans for the support of economic reforms from 1995 to 2005. During the period, the amount of financial support reached $577.3 million. Azerbaijan fully repaid the IMF loans.

Since 2005, Azerbaijan sees no need for financial resources of the IMF, so since 2006, the cooperation with the fund is implemented within the framework of consultations and technical assistance on key areas of macroeconomic policy.

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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is

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