Republic of Azerbaijan: Staff Report for the 2014 Article IV Consultation

June 11, 2014

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Republic of Azerbaijan: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2014) accessed November 23, 2024

Summary

This 2014 Article IV Consultation highlights that recent economic developments in Azerbaijan have been favorable. In 2013, a stabilization of oil output and strong non-oil growth at nearly 10 percent helped lift overall GDP growth to 5.8 percent. Inflation remained low, averaging 2.4 percent, restrained by soft food prices and a stable exchange rate. The impact of regional market turbulence in early 2014 has been limited, with few signs of lower manat demand or capital flight. Economic prospects over the near and medium term are positive, if underpinned by fiscal consolidation and supported by reforms to spur non-oil private sector activity.

Subject: Banking, Commercial banks, Commodities, Economic and financial statistics, External sector statistics, Financial institutions, Fiscal risks, National accounts, Oil, Oil prices, Prices

Keywords: Banking system, Broad money, Caribbean, Commercial banks, Consolidation effort, CR, Current account, Exchange rate, External sector statistics, Global, IMF staff estimate, Interest rate, ISCR, Monetary policy, Monetary policy stance, Oil, Oil economy, Oil prices, Private sector

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/159
Stock No:

1AZEEA2014001
ISBN:

9781498355384
ISSN:

1934-7685

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