IMF predicts account surplus in Azerbaijan
By Sara Israfilbayova
Azerbaijan's GDP could reach 98.91 billion manats ($58.17 billion) in 2022.
This year the country's GDP will amount to 66.652 billion manats ($39.20 billion), according to statistics released by the International Monetary Fund (IMF).
Thus, for five years the country’s economy will grow by 48.4 percent.
Forecasts of the IMF on Azerbaijan’s GDP:
|
Azerbaijan's GDP |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
billion manats |
66,652 |
72,783 |
78,542 |
84,675 |
91,315 |
98,91 |
|
billion dollars |
39,207 |
42,813 |
46,201 |
49,809 |
53,715 |
58,182 |
|
percent |
-1,04 |
1,287 |
2,971 |
2,61 |
2,96 |
3,1 |
Moreover, the statistics reads that Azerbaijan's state budget revenues in 2018 are expected to reach 26.242 billion manats ($15.43 billion), and expenses - 25.740 billion manats ($1514 billion).
Thus, the state budget surplus will amount to 502 million manats ($295.24 million).
The IMF forecasts a deficit of the state budget in 2017 in the amount of 211 million manats ($124.1 million) (with incomes in the amount of 25.207 billion manats ($120.69 billion), expenditures - 25.418 billion manats ($14.95 billion)).
The fund's forecasts are more optimistic than the expectations of the Azerbaijani government. This year, the government approved revenues of the state budget in the amount of 16.766 billion manats ($9.86 billion), and expenses - 17.941 billion manats ($10.55 billion). As a result, the government expects a deficit in the amount of 725 million manats ($426.4 million).
Expectations of the IMF on incomes and expenditures of the state budget of Azerbaijan until 2022 (in billions of manats):
|
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
|
Incomes |
25,207 |
26,242 |
28,129 |
29,952 |
31,299 |
32,1 |
|
From GDP (%) |
37,8 |
36,06 |
35,8 |
35,37 |
34,3 |
32,45 |
|
Incomes |
25,418 |
25,74 |
27,721 |
29,893 |
31,874 |
33,919 |
|
From GDP (%) |
38,1 |
35,366 |
35,295 |
35,303 |
34,905 |
34,292 |
The IMF is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.
The IMF's responsibilities: The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other.
Azerbaijan joined the Fund on September 18, 1992.
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