Azerbaijan's GDP to grow 5.3% in 2014, 4.5% in 2015 - World Bank
BAKU. Jan 15 (Interfax) - The World Bank is expecting 5.3% growth in Azerbaijan's GDP in 2014, the bank said in its latest Global Economic Prospects report.
In June 2013, the World Bank had forecast the country's GDP to grow 4.8% in 2014.
The World Bank has also raised its GDP growth forecast for Azerbaijan to 4.5% for 2015 from the 2.9% projected in June.
Azerbaijan's GDP will grow 3.9% in 2016, according to the bank's forecast.
In addition, the World Bank has forecast the country's balance of payments surplus at 15.9% of GDP in 2014, up from June's forecast 11.9%, 14.3% in 2015 (9.4%) and 12.5% in 2016.
The Azerbaijani government forecasts GDP growth of 5.2% in 2014, 5.8% in 2015 and 4.8% in 2016.
The Asian Development Bank expects Azerbaijan's GDP to grow 4.8% in 2014, the International Monetary Fund - 5.6% and the European Bank for Reconstruction and Development - 3.5%.
Azerbaijan's GDP grew 5.8% in 2013.
