Azerbaijan’s GDP grew 1.6 pct in three months: govt
BAKU – Azerbaijan’s gross domestic product grew 1.6 percent in January-March 2011 to reach 10.4 billion manats (over $13.1 billion), the country’s statistics committee said.
Per capita GDP rose 0.3 pct to 1,157 manats ($1,455).
Non-oil sector GDP increased 5.6 pct, while that in the oil sector decreased 1.9 pct in the first quarter of 2011.
The government forecasts that the Azerbaijani economy will grow 3.8 pct this year. The International Monetary Fund predicts Azerbaijan’s economic growth at 2.8 pct, while the Asian Development Bank forecasts GDP growth at 5.8 pct, and the European Bank for Reconstruction and Development at 3.5 pct.
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