Growth. Growth dipped in 2018 because of the over 30% drop in output from the Kumtor Gold Mine during the first half of the year. The two major contributors to GDP, and thus the swing factors for growth, are the output from Kumtor and remittances from Russia.
Growth. 2018 growth is expected to be close to 4.0% and not far off from that of 2017. The outlook for 2019 is slightly weaker growth because of the expected lower average oil price. Consumption and investment into manufacturing, agriculture and logistics are expected to be key drivers.
GDP. Growth expanded to 3.5% in 2018 but is expected to slow (moderately) this year, and in the coming years, partly because of the base-effect, but also due to tighter monetary conditions and the loss of some Russian energy subsidies.
GDP. The economy is expected to post growth of 5% for the last year and should stay close to that level for several years ahead. The key drivers of growth are the expansion in such sectors as tourism and transport services plus the rise in worker remittances. The main vulnerability is the cost of imported energy and contagion from a volatile Turkish lira.
Growth. Headline growth improved in 2018 because of the higher oil price and better output in some sectors, such as agriculture, transport and in consumption. Growth is set to rise further this year because of higher social spending and the commissioning of the Shah-Deniz 2 gas project.