Economic growth in Azerbaijan makes 1.4% in January-February

Gross domestic product – the output of goods and services produced by labor and property in Azerbaijan- stood at AZN 2.7 billion in January-February, 2011, up 1.4% on the same period a year ago.

State Statistical Committee says value added rose 3.8% to AZN 2.7 bln or 40.9% of total GDP. 51.5% of GDP was oil-gas production and processing sphere, 7.6% - net taxes to products and import.

Note that, according to forecasts of Azerbaijani government country’s economy is expected to rise 3.8% in 2011. IMF forecasts GDP growth rate in Azerbaijan as 1.8%, EBRD and ADB – as 3.5% in 2011.


/APA/