2020 State Budget of Azerbaijan: Brief Independent Review

Abstract

The Ministry of Finance of the Republic of Azerbaijan presented the draft of the 2020 State Budget. According to the document, the growth rate of the Gross Domestic Product (GDP) in Azerbaijan is expected to decline by 2020. Thus, if GDP is projected to grow by 3.2% in 2019, then it is projected to grow by 2.4% in the following year. GDP is forecasted at 82.7 billion manat in 2020 (US $48.64 billion at the current rate). The Ministry of Finance predicts a 3.3% rise in non-oil GDP, which means it will generate 54.2 billion manat (US $31.88 billion at the current rate) in the non-oil sector next year.