Publisher: Center for Economic & Social Development, Azerbaijan
Date: April 18 , 2012
Volume : 6 pages , pdf
Description
Decline wave in production sector keep on the first quarter of 2012 in spite of the fact that Government of Azerbaijan has been trying to attain expansion in above mentioned sector. Considering keeping still high portion of oil sector in total GDP, decline in oil sector noticeably reduce economic growth rate in Azerbaijan. Oil sector is still dominant in both GDP and budget revenues based on the results of the first quarter of 2012. In fact, one-sided development of the economy has begun to show its negative symptoms. As a result, the country's economic growth rate both in the first quarter of 2012 and in 2011, for the first time, decreased to its lowest level since 1996.