Close. IMF analysts forecast that the current account surplus in Azerbaijan will be 11.7 percent of GDP in 2019, 13.3 percent of GDP in 2020 and 12.8 percent of GDP in 2024.
At the same time, non-energy GDP grew at a solid 3.5 percent, with agriculture and services driving the expansion. With the confluence of rapid technical change and globalization and the need to engage in the global knowledge economy, investments in human capital will be key to Azerbaijan’s ability to collaborate and compete with other nations. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. During the first phase of institutional changes, the Bank project helped the client to establish seven new regional entities in charge of motorway maintenance. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The World Bank (WB) forecasts GDP growth rate of Azerbaijan at the level of 2.8 percent in 2019. Azerbaijan's GDP grew 2.3% in 2019 and is expected to fall to -2.2% in 2020 due to the outbreak of the COVID-19 and increase to 0.7% in 2021, according to the updated IMF forecasts from 14th April 2020. More... A cookie is a small file which asks permission to be placed on your computer’s hard drive. GDP per capita (current US$) Azerbaijan.
The new motorway maintenance enterprises are responsible for routine, winter, and emergency maintenance works, and there are plans to open periodic maintenance services to ensure open competition.
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Currently, the CPF is undergoing a mid-term review that, among other outcomes, will identify new areas for partnership with the country for the next two years. Although the oil windfall of recent decades and generous financing from international financial institutions have substantially facilitated implementation of this objective, modernizing ineffective road management and maintenance practices inherited from the Soviet era has proved a challenging task. The World Bank Group works in every major area of development.
The Azerbaijani economy grew by 2.4 per cent during the first six months of 2019 compared to the same period of the previous year, with a nominal volume of 37.825 billion manats (22.25 billion US dollars), Azerbaijani state news agency Azernews has reported. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences.
Cookies that are necessary for the site to function properly. The notable increases in the 2019 budget allocations for education (up by 13 percent) and health care (by 44.5 percent) are important in terms of improving human capital. Recognizing the key role of human capital in growth and development over the long term, the three-day, high-level forum was organized by the WBG in partnership with the Office of the Deputy Prime Minister, Ministry of Education, and Ministry of Labor and Social Protection of the Population.