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Armenian Aggression

IMF predicts growth in Azerbaijan’s economy in 2021

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By Ayya Lmahamad

Azerbaijan’s economy is forecasted to grow at 2.3 percent in 2021, the International Monetary Fund reported in its World Economic Outlook report for April.

Meanwhile, the national economy is expected to grow at 1.7 percent in 2022.

The forecast for the current year is improved by 0.3 percentage points compared to the previous forecast.

Earlier, the World Bank forecasted the economic growth in Azerbaijan's for 2021 and 2022. In its January review, the bank predicted that the growth in Azerbaijan's economy will be 1.9 percent in 2021 as oil prices stabilize and the economy benefits from investment and spending on the reconstruction of Azerbaijani territories liberated from Armenia's occupation. The World Bank also forecasts Azerbaijan's economic growth to be 4.5 percent in 2022.

Additionally, Economy Minister Mikayil Jabbarov stated earlier that the country’s forecast for the economy for 2021 are more optimistic compared to those of the International Monetary Fund and the World Bank.

“We can say that we forecast a double growth rate. If they forecast a growth rate of between 1.7 and 2 percent, we forecast a 3.4 percent economic growth rate based on the adopted parameters,” he said.

Azerbaijan joined the International Monetary Fund (IMF) on September 18, 1992. Since Azerbaijan's induction into the organization, the IMF has implemented several programs in Azerbaijan that foster economic growth.

Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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Armenian Aggression

Russian, Belarus presidents discuss situation in Karabakh via phone

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By Trend

The topic of Karabakh was discussed, among other issues, in a phone talk between Russia’s President Vladimir Putin and the Belarus President Alexander Lukashenko, held on April 15, the press service of the Russian Presidential Administration said following the talk, Trend reports referring to TASS.

"In the context of the recent visit of Alexander Lukashenko to Azerbaijan, the topic of Karabakh settlement was raised," noted the press service.

Putin and Lukashenko expressed their intention to further comprehensively strengthen Russian-Belarusian allied relations.

"During the talk, some important issues of the bilateral agenda have been discussed. Mutual disposition was expressed to further strengthen allied relations between the two countries in a comprehensive way," added the press service.

Following over a month of the Second Karabakh War between Armenia and Azerbaijan from late Sept. to early Nov. 2020, a joint statement was made by the Azerbaijani president, Armenia's PM, and the president of Russia to end the war.

A complete ceasefire and a cessation of all hostilities in Karabakh were introduced on Nov. 10, 2020.

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Armenian Aggression

Turkey sees decline in number of real estates bought by Azerbaijani citizens in 1Q2021

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By Trend

Azerbaijani citizens purchased 251 real estate properties in Turkey from January through March 2021, which is 33 properties less compared to the same period of 2020, Trend reports with reference to the Turkish State Authority on Land Cadastre and Real Estate Purchase and Sale.

In March 2021, Azerbaijani citizens purchased 106 real estate properties in Turkey, which is 11 properties more compared to March 2020, said the authority’s report.

According to the report, a total of 111,241 properties were sold in Turkey in March 2021, which is 2.4 percent more compared to the same month of 2020.

In the reporting month, 4,248 real estate properties were sold to foreigners in Turkey, which is 39.9 percent more compared to the same month of 2020.

By late 2020, Azerbaijani citizens purchased 1,279 real estate properties in Turkey.

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Armenian Aggression

Opening of Zangazur corridor to expand Azerbaijan’s transit potential, says expert

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By Trend

The opening of the Zangazur corridor will ensure reviving the old system of routes passing through the South Caucasus, Ilgar Valizade, Head of the South Caucasus political scientists' club, told Trend.

Valizade noted that other railway corridors are joining this railway system.

The opening of the Zangazur corridor will allow opening the railway lines of the Julfa district of the Nakhchivan Autonomous Republic of Azerbaijan with access to the Iranian railways, the club’s head said.

The political scientist noted that work continues on the construction of the Kars-Igdir railway, which will connect the Zangazur corridor through Nakhchivan with Kars.

In this way, the railway ring will make it possible to create such routes as Kars-Igdir-Nakhchivan and Nakhchivan-Baku, he stressed.

Valizade believes that the development of the transport sector will contribute to the growth of the country's economy and related transport infrastructure.

“The Zangazur corridor is not only railways but also automobile roads. The creation of this corridor will also open up road connections,” the expert said.

The creation of this route will become a convenient way of direct deliveries of Turkish goods to Azerbaijan and back, he added.

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