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Azerbaijan’s Economic Growth May Accelerate to 5.7% Next Year

Azerbaijan’s economic growth may accelerate to 5.7 percent next year from an estimated 0.9 percent increase in 2011, according to the Finance Ministry.

The economy of the third largest oil producer in the former Soviet Union will probably expand an average of 6.4 percent each year between 2013 and 2015, the ministry said in a report on its website today.

State budget revenue may grow to 16.4 billion manats ($21 billion) in 2012, an increase of 5.7 percent from this year, according to the report. Expenditure is estimated to advance 6.5 percent to 17 billion manats. Average annual inflation may be 5.4 percent between 2012 and 2014, the ministry said.

Source: Bloomberg

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