Azerbaijan, Baku, Aug. 13/ Trend E. Aliyev /
Monitoring of the real sector carried out by the Central Bank of Azerbaijan (CBA) provides for optimistic expectations with regards to economic growth in the country, according to a report on the country's monetary policy in the first half of 2013 published on the website of the Central Bank.
"According to the monitoring results, the growth is projected in industrial production and demand for services compared to last year. Positive expectations particularly relate to such industries as food processing, construction materials, weaving," the report said.
In general, the monitoring results show an increase in the number of enterprises with growing production and turnover.
According to forecasts of the government, the Central Bank as well as international institutions, economic growth is expected to continue in the country in the near future.
"Recent economic surveys of the International Monetary Fund and the Asian Development Bank predict growth of Azerbaijani economy in 2013 at 4.1 percent and 3.1 percent respectively," according to the report.
According to the CBA, the difference between potential and actual GDP in the first half of 2013 was 0.9 percent. The CBA expects this figure to increase to 1.7 percent by the end of the year.
"An essential role in maintaining positive difference between potential and actual GDP n 2013 will be played by an increase in domestic demand", the report of the Central Bank of Azerbaijan said.
According to the State Statistics Committee, the country's GDP grew by five percent in the first half-year.