Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth
This regular economic report records the economic activities of Azerbaijan for the year 2013-2014. Economic growth continued to be powered by spending of previously accumulated oil-related proceeds, although the stabilization of oil production also...
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/249221486554274720/Azerbaijan-Public-investment-still-driving-growth http://hdl.handle.net/10986/26056 |
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okr-10986-260562021-04-23T14:04:33Z Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth World Bank ECONOMIC GROWTH SOCIETY SUSTAINABLE GROWTH ANALYSIS FINANCE POLICY economic outlook trade labor market poverty fiscal policy monetary policy This regular economic report records the economic activities of Azerbaijan for the year 2013-2014. Economic growth continued to be powered by spending of previously accumulated oil-related proceeds, although the stabilization of oil production also helped. The non-oil sector grew by 10 percent in 2013, essentially aided by public investment. In addition, efforts aimed at stabilizing oil production bore fruit and resulted in an increase of 0.9 percent in oil output. The fiscal surplus narrowed to 1.8 percent of GDP in 2013 because of lower oil revenues and sustained expenditures, and the non-oil fiscal deficit continues to be high. The 2014 budget signals fiscal consolidation, essentially through lower public investments, a step in the right direction. With the announcement of 2014 as the Year of Industry, the authorities intend to prioritize adoption of the competition code, establishment of special economic zones and techno parks, winemaking, and other agricultural products. A modest increase in public expenditures on health and education in 2014 adds to the concerns that the government’s efforts at diversification might not be focused on strengthening its asset base. 2017-02-13T23:08:16Z 2017-02-13T23:08:16Z 2014-03 Report http://documents.worldbank.org/curated/en/249221486554274720/Azerbaijan-Public-investment-still-driving-growth http://hdl.handle.net/10986/26056 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Europe and Central Asia Azerbaijan |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ECONOMIC GROWTH SOCIETY SUSTAINABLE GROWTH ANALYSIS FINANCE POLICY economic outlook trade labor market poverty fiscal policy monetary policy |
| spellingShingle |
ECONOMIC GROWTH SOCIETY SUSTAINABLE GROWTH ANALYSIS FINANCE POLICY economic outlook trade labor market poverty fiscal policy monetary policy World Bank Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth |
| geographic_facet |
Europe and Central Asia Azerbaijan |
| description |
This regular economic report records the
economic activities of Azerbaijan for the year 2013-2014.
Economic growth continued to be powered by spending of
previously accumulated oil-related proceeds, although the
stabilization of oil production also helped. The non-oil
sector grew by 10 percent in 2013, essentially aided by
public investment. In addition, efforts aimed at stabilizing
oil production bore fruit and resulted in an increase of 0.9
percent in oil output. The fiscal surplus narrowed to 1.8
percent of GDP in 2013 because of lower oil revenues and
sustained expenditures, and the non-oil fiscal deficit
continues to be high. The 2014 budget signals fiscal
consolidation, essentially through lower public investments,
a step in the right direction. With the announcement of 2014
as the Year of Industry, the authorities intend to
prioritize adoption of the competition code, establishment
of special economic zones and techno parks, winemaking, and
other agricultural products. A modest increase in public
expenditures on health and education in 2014 adds to the
concerns that the government’s efforts at diversification
might not be focused on strengthening its asset base. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth |
| title_short |
Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth |
| title_full |
Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth |
| title_fullStr |
Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth |
| title_full_unstemmed |
Azerbaijan Economic Report, Spring 2014 : Public Investment Still Driving Growth |
| title_sort |
azerbaijan economic report, spring 2014 : public investment still driving growth |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/249221486554274720/Azerbaijan-Public-investment-still-driving-growth http://hdl.handle.net/10986/26056 |
| _version_ |
1764460833164754944 |