Thursday, September 21, 2006
Azeri gov't predicts rampant growth
Baku, September 20, AssA-Irada
Rapid economic development will continue in Azerbaijan next year, along with
industrial growth and increasing living standards, government experts say.
The average monthly wage will rise by 25% in various fields of the economy
to reach 156 manats ($177) this year and 195 manats ($221) in 2007, while
the income of the population will grow by 27.4% and 22.5% respectively, the
Economic Development Ministry predicts.
The Gross Domestic Product (GDP) is expected to reach 18.1bn manats
($20.5bn) by the year-end and 22.2bn manats ($25.5bn) in 2007, with almost
80% of the figure made up by the private sector.
$8.75bn will be invested in the country's economy in 2006 and almost $8.9bn
next year. Foreign investment will make up $5.2bn and $4.1bn respectively.
The trade turnover is expected to considerably rise as well. Considering the
average price of export oil at $50, the indicator is predicted to make up
over $18.9bn in 2006 and some $22.3bn in 2007.
Industrial production will increase by 55.2% in 2006 and 41.8% next year.
Agricultural production growth will be around 9-10%. The growth will make up
35% and 25% in the communications sector and 16% and 20% in the transport
sector, according to the projection.*
Rapid economic development will continue in Azerbaijan next year, along with
industrial growth and increasing living standards, government experts say.
The average monthly wage will rise by 25% in various fields of the economy
to reach 156 manats ($177) this year and 195 manats ($221) in 2007, while
the income of the population will grow by 27.4% and 22.5% respectively, the
Economic Development Ministry predicts.
The Gross Domestic Product (GDP) is expected to reach 18.1bn manats
($20.5bn) by the year-end and 22.2bn manats ($25.5bn) in 2007, with almost
80% of the figure made up by the private sector.
$8.75bn will be invested in the country's economy in 2006 and almost $8.9bn
next year. Foreign investment will make up $5.2bn and $4.1bn respectively.
The trade turnover is expected to considerably rise as well. Considering the
average price of export oil at $50, the indicator is predicted to make up
over $18.9bn in 2006 and some $22.3bn in 2007.
Industrial production will increase by 55.2% in 2006 and 41.8% next year.
Agricultural production growth will be around 9-10%. The growth will make up
35% and 25% in the communications sector and 16% and 20% in the transport
sector, according to the projection.*
# posted by Trafton @ 12:03 AM 
