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Wed, 09/27/2017 - 09:44
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ADB: Azerbaijani economy to grow in 2018

Baku, Azerbaijan, Sept. 27 By Anvar Mammadov – Trend: The Asian Development Bank (ADB) expects that Azerbaijan’s GDP growth will be one percent in 2018, according to the "Asian Development Outlook 2017 Update: Sustaining Development Through Public-Private Partnership". Azerbaijan’s GDP growth rate decreased by 3.8 percent in 2016. The ADB expects that the recession will continue in 2017, but its pace will slow down. Thus, according to the bank’s forecasts, the Azerbaijani GDP growth rate will decrease by 1.3 percent in 2017. The Azerbaijani government, in turn, expects that the country’s GDP will grow by one percent in 2017, and by 1.5 percent – in 2018. According to the ADB, growth forecast for Central Asia, which also covers Azerbaijan, is 3.3 percent for 2017, and 3.9 percent – for 2018. ADB was founded in 1966. Sixty-seven states are its members. Azerbaijan became an ADB member on Dec. 22, 1999.