Azerbaijan's Jan-July GDP falls 3 pct - stats committee

10:00 | 15.08.2016
Azerbaijan's Jan-July GDP falls 3 pct - stats committee

Azerbaijan's Jan-July GDP falls 3 pct - stats committee

Azerbaijan's economy shrank by 3 percent year-on-year in January-July, compared with growth of 5.6 percent in the same period last year, the State Statistics Committee said on Friday.

"The decline in gross domestic product in January-July was caused by a decline in services in the construction sector of 30.7 percent," the committee said in a statement.

The oil sector rose by 2 percent, while the non-oil sector declined by 5.4 percent.

Economic growth slowed to 1.1 percent last year from 2.8 percent in 2014, well below official forecasts, because of low oil prices and the devaluation of the national manat currency.

The country forecasts 1.8 percent growth in 2016.

www.ann.az
0
Follow us !

REKLAM