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S&P: Azerbaijan’s Growth to Increase

Standard & Poor rating agency recently said in a statement that it expects real growth in Azerbaijan to increase slowly again, reaching 3.0% this year and 5.0% in 2013.

The agency expects the growth to be maintained by higher oil production and prices leading to stronger inflows from exports, an increase in household disposable incomes, and better credit conditions, which supports domestic demand. The agency prognosis shows that the growth of GDP per capita will be 3.2% in 2012-2014

The agency says GDP growth will be driven in part by foreign direct investment in the oil sector, an increase in the production and export of oil and gas, and significant public spending.

Source: NewEurope Online

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