14 Oct 2010 17:53

Azerbaijani GDP will grow 5%-9% per year in 2012-2014 - econ ministry

BAKU. Oct 14 (Interfax) - Azerbaijan's Economy Ministry projects GDP growth of 5%-9% per year in 2012-2014, a source in the country's government told Interfax.

The country is expected to post GDP growth of 5.8% this year and 3.8% in 2011.

"For 2012 the Economic Development Ministry is forecasting GDP growth of 6.4%, for 2013 - 5.4%, and for 2014 - 9.2%," the government representative said.

The ministry reckons GDP growth in the oil sector will be 3.6% in 2012, 2.2% in 2013, and 12% in 2014. For the non-oil sector: 8.5%, 7.7%, and 7.6%, respectively.

"Nominal GDP volume in 2012 is projected at 43.861 billion manat, in 2013 - 47.567 billion manat, and for 2014 - 53.148 billion manat," the source said.

Per capita GDP is forecast at $5,275 this year, $5,537 next year, $5,976 in 2012, $6,412 in 2013, and $7,091 in 2014.

The official exchange rate for October 14: 0.8015/$1.