IMF Staff Country Reports

Republic of Azerbaijan: 2016 Article IV Consultation-Press Release; Staff Report; and Informational Annex

September 14, 2016

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Republic of Azerbaijan: 2016 Article IV Consultation-Press Release; Staff Report; and Informational Annex, (USA: International Monetary Fund, 2016) accessed December 22, 2024

Summary

This 2016 Article IV Consultation highlights that the economic performance in Azerbaijan has been impaired by a number of negative shocks. Lower oil prices, weak regional growth, currency devaluations in its main trading partners, and a contraction in hydrocarbon production rapidly erased the large current account surplus the country enjoyed during the oil boom years. Near-term economic prospects remain weak. Under current policies, growth is expected to contract in 2016 and remain sluggish in the next few years, while inflation is expected to gradually decrease. The current account balance should improve as the devaluations work to limit imports and support nontraditional exports.

Subject: Commodities, Credit, Economic and financial statistics, External sector statistics, Money, National accounts, Oil, Oil prices, Prices

Keywords: Asia and Pacific, Capital expenditure project, Caribbean, Center, Central Asia, CR, Credit, Data dissemination practice, Devaluations work, Exchange rate, Exchange rate framework, External sector statistics, Global, Handling ADB affair, IMF staff estimate, ISCR, Managed float, Manat base money, Oil, Oil prices, Policy buffer, Regime, Southern Europe

Publication Details

  • Pages:

    83

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2016/296

  • Stock No:

    1AZEEA2016001

  • ISBN:

    9781475536485

  • ISSN:

    1934-7685