GDP to rise 19% in 2009
Azerbaijan`s Gross Domestic Product (GDP) is predicted to grow
18.9% to reach 43.6 billion manats ($53.8 billion) in 2009,
Economic Development Minister Shahin Mustafayev has said.
Growth in the oil sector will make up 44.4%, while that in the non-oil sector will be 10.5%. The share of the private sector in GDP will be 88% next year. Investments in the national economy throughout the year will amount to 8.4bn manats ($10.3bn), including 6.5bn manats due to domestic sources. Further, per capita GDP will make up $6,300 in 2009 and will rise to $7,143 in 2012, Mustafayev said.
The minister added that unless substantial foreign influence is exerted on domestic prices, inflation will only reach 12-14% in the country next year as a result of the government`s anti-inflation measures. He said the rate of inflationary increases would then be reduced to single digits over the next three years.
The income of citizens is expected to increase 22.5% next year. The measures taken will allow a raise in the average monthly wage to 353 manats ($435) and an increase in the minimum wage and base pensions from 70 to 80 manats (about $100).
Growth in the oil sector will make up 44.4%, while that in the non-oil sector will be 10.5%. The share of the private sector in GDP will be 88% next year. Investments in the national economy throughout the year will amount to 8.4bn manats ($10.3bn), including 6.5bn manats due to domestic sources. Further, per capita GDP will make up $6,300 in 2009 and will rise to $7,143 in 2012, Mustafayev said.
The minister added that unless substantial foreign influence is exerted on domestic prices, inflation will only reach 12-14% in the country next year as a result of the government`s anti-inflation measures. He said the rate of inflationary increases would then be reduced to single digits over the next three years.
The income of citizens is expected to increase 22.5% next year. The measures taken will allow a raise in the average monthly wage to 353 manats ($435) and an increase in the minimum wage and base pensions from 70 to 80 manats (about $100).
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