IMF: Azerbaijan’s non-oil sector to grow by 2.8% in 2019

Baku. 6 November. REPORT.AZ/ Growth in non-oil sector of Azerbaijan will make up 2.1% in 2018, 2.8% in 2019, Report informs with reference to IMF Caucasus and Central Asia Regional Economic Outlook.

According to IMF, daily oil output will be 0.78 million barrels in Azerbaijan in 2019. Gas output will be 0.41 million in 2018, 0.54 million in 2019. Azerbaijan’s oil sector will grow by 5%.

IMF says that high oil price and extension of the state investments have positive impact on economic growth rate.

According to forecasts, annual inflation will be 3.5% this year, 3.3% in 2019.

According to Azerbaijani government’s forecast, GDP will grow by 3.6% to AZN 81.9 billion in 2019, non-GDP – by 3.9% to AZN 50.5 billion.