Azerbaijan expects economic growth in next four years

Azerbaijan expects economic growth in next four years
  • Clock-gray 09:30
  • calendar-gray 06 December 2016

Baku. Mubariz Aslanov - APA. Azerbaijan expects economic growth in 2017 and the next three years, Ogtay Asadov, Speaker of Azerbaijani Parliament, said at a parliamentary plenary session.


Azerbaijan’s Milli Mejlis (parliament) began on Tuesday a three-day plenary session to discuss the state budget package for 2017.


Azerbaijan’s economy has also been affected by negative trends and macroeconomic problems prevailing in many countries, the speaker said, noting that the three-fold drop in oil prices has led to reducing the flow of currency into the country.


“Therefore, it became necessary to make appropriate changes in the monetary policy of the Central Bank of Azerbaijan,” Asadov said. “Despite the existing problems, Azerbaijan’s economy has maintained its sustainability thanks to the coherent and successful policy of the country’s president.”  


According to the speaker, it is planned to increase revenues from non-oil sector in the state budget in 2017.


“It is predicted that the transfers from the State Oil Fund will decrease by 1.5 billion manats and amount to 6.1 billion manats. This process will continue in the coming years,” he added.



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