Fitch expects Azerbaijan’s economic growth to pick-up

Baku. 18 February. REPORT.AZ/ Fitch Ratings expects economic growth to pick-up to 3.5% in 2019, from 1.3% in 2018, supported by the coming on stream of Shah Deniz 2 gas field and investments stemming from the extension of the production sharing agreement for the exploitation of the country's largest oil field, Report informs referring to the agency.

‘Ramp-up in production from Shah Deniz 2 will lead to a surge in hydrocarbon exports, offsetting the pick-up in imports following currency deprecations in major trading partners. Tourism and agriculture will foster non-oil sector growth. Strong demand from Russia for agriculture exports, a robust tourism sector, and the completion of a new urea plant will stimulate exports of non-oil goods and services’, the agency reported.