Country Profile - Macro-Advisory

Country Profile Armenia May 2015

Armenia’s economic performance this year will be impeded by the impact of the Russian ruble depreciation and the expected drop in remittances from Armenian workers in Russia. We expected GDP growth to contract to just 1% in 2015 from over 7% in 2012.

Country Profile Azerbaijan February 2015

Hydrocarbon based economy. Azerbaijan’s economy is very dependent on hydrocarbon exports. In 2014 this made up 44% of GDP, 70% of budget revenues and 95% of exports. The oil price drop will cut this year’s GDP growth to 2%, from almost 6% in 2013, and lead to an estimated budget deficit of 5% of GDP. The budget needs US$90 p/bbl to break even based on Finance Ministry estimates.

Astana

+ 7 (717) 279 3260

Baku

+ 994 (12) 526 4257

London

+ 44 (0)20 8798 0742

Lviv

+ 380 (32) 242 4410

Moscow

+ 7 (495) 139 4703

Tashkent

+ 998 (71) 205 0837

Washington DC

+ 1 (202) 951 8444

Design by

Illustrations by Pernilla Iggstrom

Design by

Illustrations by Pernilla Iggstrom

Design by Jo Roper Design
Illustrations by Pernilla Iggstrom

Design by Jo Roper Design

Illustrations by Pernilla Iggstrom

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