Azerbaijan Economic Report, October 2013 : Modest Economic Growth
This economic report records the economic activities of Azerbaijan for the year 2013. Economic growth picked up in the first half of 2013 on the back of higher public investment and moderation in the decline in oil production. The continued decline...
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| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/131791486635583648/Azerbaijan-Modest-economic-growth http://hdl.handle.net/10986/26093 |
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okr-10986-260932021-04-23T14:04:33Z Azerbaijan Economic Report, October 2013 : Modest Economic Growth FINANCE POLICY JOBS OIL INDUSTRY EMPLOYMENT HYDROCARBON DEFICIT DIVERSIFICATION NATURAL GAS PRODUCTION economic growth economic outlook trade labor markets poverty fiscal policy monetary policy This economic report records the economic activities of Azerbaijan for the year 2013. Economic growth picked up in the first half of 2013 on the back of higher public investment and moderation in the decline in oil production. The continued decline in oil production, even though at a slower pace than in 2012, lowered the fiscal and current account surplus. Fiscal performance was however better than what was budgeted due to higher oil prices and pick-up in growth. A fall in oil exports lowered the current account surplus and net capital outflows from Azerbaijan continued for the sixth year in a row. Diversification remains high on the policy agenda but the country has a long way to go. Limited progress has been made on most of the components of human capital and institutions, and a lot more needs to be done. In the absence of alternate sources of growth, the hydrocarbon sector will continue to determine the economic performance of Azerbaijan over the medium-term. The decline in oil production is expected to be partially offset by an increase in natural gas production. With a fall in oil related fiscal revenues, public expenditures are expected to be scaled back thereby reducing non-oil growth. Hence, economic expansion is estimated at 4.5 percent per year over the medium-term. 2017-02-17T21:22:41Z 2017-02-17T21:22:41Z 2013-10 Report http://documents.worldbank.org/curated/en/131791486635583648/Azerbaijan-Modest-economic-growth http://hdl.handle.net/10986/26093 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Europe and Central Asia Azerbaijan |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
FINANCE POLICY JOBS OIL INDUSTRY EMPLOYMENT HYDROCARBON DEFICIT DIVERSIFICATION NATURAL GAS PRODUCTION economic growth economic outlook trade labor markets poverty fiscal policy monetary policy |
| spellingShingle |
FINANCE POLICY JOBS OIL INDUSTRY EMPLOYMENT HYDROCARBON DEFICIT DIVERSIFICATION NATURAL GAS PRODUCTION economic growth economic outlook trade labor markets poverty fiscal policy monetary policy Azerbaijan Economic Report, October 2013 : Modest Economic Growth |
| geographic_facet |
Europe and Central Asia Azerbaijan |
| description |
This economic report records the
economic activities of Azerbaijan for the year 2013.
Economic growth picked up in the first half of 2013 on the
back of higher public investment and moderation in the
decline in oil production. The continued decline in oil
production, even though at a slower pace than in 2012,
lowered the fiscal and current account surplus. Fiscal
performance was however better than what was budgeted due to
higher oil prices and pick-up in growth. A fall in oil
exports lowered the current account surplus and net capital
outflows from Azerbaijan continued for the sixth year in a
row. Diversification remains high on the policy agenda but
the country has a long way to go. Limited progress has been
made on most of the components of human capital and
institutions, and a lot more needs to be done. In the
absence of alternate sources of growth, the hydrocarbon
sector will continue to determine the economic performance
of Azerbaijan over the medium-term. The decline in oil
production is expected to be partially offset by an increase
in natural gas production. With a fall in oil related fiscal
revenues, public expenditures are expected to be scaled back
thereby reducing non-oil growth. Hence, economic expansion
is estimated at 4.5 percent per year over the medium-term. |
| format |
Report |
| title |
Azerbaijan Economic Report, October 2013 : Modest Economic Growth |
| title_short |
Azerbaijan Economic Report, October 2013 : Modest Economic Growth |
| title_full |
Azerbaijan Economic Report, October 2013 : Modest Economic Growth |
| title_fullStr |
Azerbaijan Economic Report, October 2013 : Modest Economic Growth |
| title_full_unstemmed |
Azerbaijan Economic Report, October 2013 : Modest Economic Growth |
| title_sort |
azerbaijan economic report, october 2013 : modest economic growth |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/131791486635583648/Azerbaijan-Modest-economic-growth http://hdl.handle.net/10986/26093 |
| _version_ |
1764460919936516096 |