Baku, Azerbaijan, Sept.15
By Anvar Mammadov - Trend:
The growth rate of Azerbaijan's GDP will be 1.8 percent, while the GDP volume will reach 57.7 billion Azerbaijani manats in 2016, according to the government forecast.
The growth of the non-oil sector will be 3.4 percent, while the value-added production in the oil sector will drop by 1.7 percent, said the draft state and consolidated budgets of Azerbaijan for 2016 made public by the Finance Ministry.
The volume of investments to be made in the fixed capital by late 2016 is expected to reach $18.8 billion, of which 57.8 percent accounts for the domestic investments and 42.2 percent for foreign investments.
Eight billion manats will be invested in the oil sector and 10.8 billion manats in the non-oil sector.
The volume of non-state investments will be 10.9 billion manats (58.2 percent of the total volume of investments), while the volume of state investments will reach 7.9 billion manats (41.8 percent of the total volume of investments).
The population's income in Azerbaijan is expected to be 43.8 billion manats in 2016 (1.2 percent growth compared to 2015), while the expenditures will increase by 0.6 percent compared to 2015 and reach 34.4 billion manats, according to the draft budget.
Furthermore, the revenues of Azerbaijan's state budget are expected to reach 14.566 billion manats, while the expenditures will be 16.264 billion manats in 2016.
The budget deficit for 2016 is forecasted at 1.698 billion manats, or 2.9 percent of GDP.
The official exchange on Sept.15 is 1.0475 AZN/USD.
Edited by SI
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