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International Monetary Fund

This Data Module of the Report on the Observance of Standards and Codes (ROSC) provides an assessment of Azerbaijan’s macroeconomic statistics against the Special Data Dissemination Standard (SDDS) complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework (DQAF), July 2003. The assessment reveals that Azerbaijan’s Consumer Price Index (CPI) meets Special Data Dissemination Standard (SDDS) specifications for coverage, periodicity, and timeliness. The CPI has good data sources for both weights and prices, based on well-designed household and retail establishment surveys.

International Monetary Fund

This Report on the Observance of Standards and Codes data module provides a review of Azerbaijan’s data dissemination practices against the IMF’s General Data Dissemination System (GDDS), complemented by an in-depth assessment of the quality of the national accounts, consumer price index, producer price index, government finance, monetary, and balance-of-payments statistics using the Data Quality Assessment Framework. Azerbaijan meets and in many cases substantially exceeds the GDDS recommendations on periodicity and timeliness for its macroeconomic statistics. The three main agencies responsible for compiling macroeconomic data have broadly adequate legal powers.

International Monetary Fund. Middle East and Central Asia Dept.
This 2016 Article IV Consultation highlights that the economic performance in Azerbaijan has been impaired by a number of negative shocks. Lower oil prices, weak regional growth, currency devaluations in its main trading partners, and a contraction in hydrocarbon production rapidly erased the large current account surplus the country enjoyed during the oil boom years. Near-term economic prospects remain weak. Under current policies, growth is expected to contract in 2016 and remain sluggish in the next few years, while inflation is expected to gradually decrease. The current account balance should improve as the devaluations work to limit imports and support nontraditional exports.
International Monetary Fund
This paper presents the key findings of the Republic of Azerbaijan’s 2010 Article IV Consultation. In 2009, overall GDP grew at 9.3 percent, but non-oil GDP growth slowed from 16 percent to 3 percent, fiscal and export revenues fell by more than 30 percent, and credit and liquidity conditions tightened substantially. Owing to the authorities’ appropriate policy response, the exchange rate remained stable, inflation dropped dramatically, official poverty rates continued to fall, and financial stability was maintained.
International Monetary Fund. Middle East and Central Asia Dept.
This 2014 Article IV Consultation highlights that recent economic developments in Azerbaijan have been favorable. In 2013, a stabilization of oil output and strong non-oil growth at nearly 10 percent helped lift overall GDP growth to 5.8 percent. Inflation remained low, averaging 2.4 percent, restrained by soft food prices and a stable exchange rate. The impact of regional market turbulence in early 2014 has been limited, with few signs of lower manat demand or capital flight. Economic prospects over the near and medium term are positive, if underpinned by fiscal consolidation and supported by reforms to spur non-oil private sector activity.
International Monetary Fund
This Data Module of the Report on the Observance of Standards and Codes (ROSC) provides an assessment of Azerbaijan’s macroeconomic statistics against the Special Data Dissemination Standard (SDDS) complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework (DQAF), July 2003. The assessment reveals that Azerbaijan’s Consumer Price Index (CPI) meets Special Data Dissemination Standard (SDDS) specifications for coverage, periodicity, and timeliness. The CPI has good data sources for both weights and prices, based on well-designed household and retail establishment surveys.
International Monetary Fund
This Article IV Consultation reports on policies of the Republic of Azerbaijan. These policies contain inflation and measures to strengthen the resilience of the banking system to promote the development of the financial sector. Non-oil GDP continued to expand rapidly, pushed by large increases in public expenditure, including wages and pensions. The authorities intend to continue with their expansionary fiscal plans in 2008, in line with their strategy to pursue fast improvements in living standards and infrastructure to set the basis for long-term non-oil growth.
International Monetary Fund
This Report on the Observance of Standards and Codes data module provides a review of Azerbaijan’s data dissemination practices against the IMF’s General Data Dissemination System (GDDS), complemented by an in-depth assessment of the quality of the national accounts, consumer price index, producer price index, government finance, monetary, and balance-of-payments statistics using the Data Quality Assessment Framework. Azerbaijan meets and in many cases substantially exceeds the GDDS recommendations on periodicity and timeliness for its macroeconomic statistics. The three main agencies responsible for compiling macroeconomic data have broadly adequate legal powers.
International Monetary Fund. Middle East and Central Asia Dept.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
The paper identifies a number of stylized facts on the behavior of key macroeconomic variables during high inflation and stabilization in countries in transition. To examine the extent to which these stylized facts conform to the predictions of standard open economy monetary theory, the paper develops a simple monetary model of the exchange rate incorporating price stickiness and inflation inertia, and carries out an econometric analysis of the behavior of real money balances during inflation stabilization. The paper concludes by assessing the prospects for velocity developments in countries in transition, including the likely pace of remonetization.