GDP growth rate in Azerbaijan 0.1-0.2 percent
GDP growth rate is forecasted at 0.1-0.2 percent in Azerbaijan in 2011, according to head of the State Statistics Committee of Azerbaijan Arif Veliyev.
According to APA, Veliyev noted that inflation is forecasted at 8 percent in 2011. Annual inflation rate in January-November amounted to 8 percent.
The official said that GDP is expected to amount around AZN 50 billion at the end of the year.
After launching oil projects Azerbaijani economy recorded growth on key economic indicators for several years. According to official data, in 2004 GDP growth rate in Azerbaijan amounted to 9.8 percent, in 2005 – 26.4 percent, in 2006 – 32.5 percent, in 2007 – 25 percent, in 2008 – 10.8 percent, in 2009 – 9.3 percent, in 2010 – 5 percent. GDP growth rate amounted to 0.3 percent in January-October, according to official data.