GDP growth to hit 26.3% in 2007

The Cabinet told APA that foreign trade will yield favorable balance of $11.5bn.

The Cabinet predicts that public investment will rise 20% to AZN 1.1bn and these funds will be spent on implementation of state programs (development of regions, reduction of poverty, ecological projects, educational, youth, and sport development projects).

The Government forecasts that growth of the GDP will make 26.3% as well as 45% in the oil sector.

Growth of the industry is expected to be 42% which will constitute 59.7% of the GDP. The rise of the other economic sectors is believed to ranger from 10% to 25%. Investment of AZN 7.8bn (domestic investment-AZN 4.2bn and foreign investment –AZN 3.6bn) will be made in the development of economy.

The incomes and expenditures of the state budget are anticipated to be AZN 5.336bn and AZN 5.715bn respectively in 2007.