Azerbaijan in CAREC
- Azerbaijan joined CAREC in 2003
- Since 2003, $3.9 billion has been invested in transport, trade, and energy
- 14 ongoing CAREC projects
- 5 completed CAREC projects
EBRD adopts 2014-2017 Azerbaijan strategy
The European Bank for Reconstruction and Development (EBRD) Board of Directors adopted a new strategy for Azerbaijan that analyzes the country's progress in political and economic transition and outlines the bank's priorities over the next 4 years. Read more
Azerbaijan is in the southeast Caucasus, a region that stretches more than 800 kilometers from the Black Sea to the Caspian Sea. The country's location at the intersection of Asia and Europe gives it strategic importance, and it is one of the world's earliest oil-producing countries.
Highlights from the Asian Development Outlook 2014:
Growth accelerated to 5.8% in 2103 from 2.2% a year earlier, reflecting recovery in the oil sector and continued growth in the rest of the economy. Declining oil prices squeezed export earnings and narrowed the current account surplus to 16.7% of GDP. Growth is projected to moderate to 4%-5% in 2014 and 2015 as industry grows more slowly. Read more.