Republic of Azerbaijan: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Azerbaijan

June 5, 2007

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Format: Chicago

Republic of Azerbaijan: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Azerbaijan, (USA: International Monetary Fund, 2007) accessed November 21, 2024

Summary

This 2007 Article IV Consultation highlights that Azerbaijan’s real GDP growth accelerated to 31 percent in 2006, driven by rapidly increasing oil production and transportation. Non-oil real GDP, excluding oil and gas transportation, grew by about 8 percent, as nontradable sectors benefited from ramped up government spending and rapidly growing banking credit. Inflation rose into the double digits by August 2006. Progress in other structural reforms has been mixed. The short-term growth and external outlooks remain exceptionally favorable, but keeping inflation from increasing further represents a major challenge.

Subject: Commodities, Economic sectors, Energy subsidies, Expenditure, Monetary base, Money, Oil, Oil sector, Oil, gas and mining taxes

Keywords: ANB, Authorities are-not, Authority, Baltics, Banking sector reform, Central and Eastern Europe, Central Asia, CR, Energy subsidies, Foreign currency, Global, IMF staff estimate, ISCR, Monetary base, Nominal exchange rate appreciation, Oil, Oil revenue, Oil sector

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/191
Stock No:

1AZEEA2007001
ISBN:

9781451802702
ISSN:

1934-7685

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