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

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  • International Monetary Fund

Abstract

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.

Suggested Citation

  • International Monetary Fund, 2014. "Republic of Azerbaijan: Staff Report for the 2014 Article IV Consultation," IMF Staff Country Reports 2014/159, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2014/159
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=41622
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    Cited by:

    1. Zeynalov, Ayaz, 2014. "The Gravity of Institutions in Resource-Rich Country," MPRA Paper 60943, University Library of Munich, Germany.
    2. Ayaz Zeynalov, 2017. "The gravity of institutions in a resource-rich country: the case of Azerbaijan," International Economics and Economic Policy, Springer, vol. 14(2), pages 239-261, April.

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