Forecast: Azerbaijan's economy will grow by 1.3% in 2019

Baku. 11 May. REPORT.AZ/ The World Bank (WB) forecasts 1.9% economic growth in Europe and Central Asia in 2017.

Report informs, this is 0.3% higher than the figure indicated in the bank’s forecast in October 2016.

The WB forecast for regional economic growth next year is 1.8%. Let’s note that the bank predicts 1.4% decline in gross domestic product (GDP) of Azerbaijan in 2017, 0.6% growth in 2018, and 1.3% increase in 2019.

“Share of agricultural sector in GDP will increase by 3.4% this year, 4,2% in 2018 and 4.5% in 2019. Industrial sector’s contribution to the GDP will drop by 2.9% this year, 0.8% in 2018, and 0.3% in 2019”, report says.

Besides, share of service sector in GDP is expected to drop by 0.8% in 2017, and growth is expected by 1.8% in 2018, and 2% in 2019.

Budget deficit in Azerbaijan this year is expected to make 6% of GDP: “This indicator will be 8.3% in 2018 and 7.7% in 2019”.