Azerbaijan's January-September GDP falls 3.9%October 17, 2016 - 18:05 AMT PanARMENIAN.Net - Azerbaijan's gross domestic product shrank by 3.9 percent year-on-year in January-September, Interfax news agency quoted the State Statistics Committee as saying on Monday, October 17. Economic growth slowed to 1.1 percent last year from 2.8 percent in 2014, well below official forecasts, because of low oil prices and the devaluation of the national manat currency, Reuters reports. The country forecasts 1.8 percent GDP growth in 2016. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan. Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem." U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says. Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |