Azerbaijani GDP to exceed $55.2 billion manats

The Azerbaijani Parliament has held a preliminary discussions of the state budget for 2012. A report was made by the committees for economic policy, security and defenses, natural resources, energy and ecology, social policy, Minister for Finances Samir Sharifov said, contact.az reports.

The Azerbaijani budget for 2012 is expected at 43.454 billion manats. Real economic growth is expected at 5.7%.

Private business will have a share of 83.1% in the economy. The oil sector will bring income of 14.715 billion manats (+1.5%), its proportion in the GDP will be 33.9%. Other economic segments will bring 24.896 billion manats (+8.6%), with a proportion of 57.3.

Income per capita will be $6,004 (+4.4%). The population will have an income of 36.357 billion manats with a growth rate of 6.8%. An average wage will be 432.5 manats (+5.5%).

Investments in Azerbaijan in 2012 will increase by 1.256 (+9.7%) and reach 13.492 billion manats. Local investments will make 70.3% (about 9.5 billion manats), foreign 29.7%.

68.4% of finances in economy will be spent on the oil sector. State investments will reach 7.5 billion manats. Non-state investments will have a share of 44.8% of total investments.