FEB. 23 2016 (The Conway Bulletin) – The Economist Intelligence Unit (EIU) said that it was likely Azerbaijan’s economy would contract in the first quarter of 2016. This would be the first time since the last quarter of 2011 that Azerbaijan’s economy has contracted. For an economy to be considered to be in recession, GDP needs to shrink for two consecutive quarters. The main factor in Azerbaijan’s poor economic outlook is the consistent low oil prices.
ENDS
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(News report from Issue No. 269, published on Feb. 26 2016)