{"id":6694,"date":"2021-06-19T16:31:12","date_gmt":"2021-06-19T12:31:12","guid":{"rendered":"https:\/\/qia.az\/en\/imf-sgc-pipeline-to-boost-exports-of-natural-gas-mitigating-decline-in-oil-production\/"},"modified":"2021-06-19T16:31:12","modified_gmt":"2021-06-19T12:31:12","slug":"imf-sgc-pipeline-to-boost-exports-of-natural-gas-mitigating-decline-in-oil-production","status":"publish","type":"post","link":"https:\/\/qia.az\/en\/imf-sgc-pipeline-to-boost-exports-of-natural-gas-mitigating-decline-in-oil-production\/","title":{"rendered":"IMF: SGC pipeline to boost exports of natural gas, mitigating decline in oil production"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/qia.az\/en\/wp-content\/uploads\/sites\/3\/2021\/06\/IMF-SGC-pipeline-to-boost-exports-of-natural-gas-mitigating.jpg\" \/><\/p>\n<div itemprop=\"articleBody\">\n<p>Risks to the outlook of the Azerbaijani economy are broadly balanced, although uncertainty about the future of the pandemic remains high, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/report.az\/en\/\">Report<\/a> informs referring to a report by the International Monetary Fund (IMF) following consultations with the Azerbaijani government under Article IV of the IMF\u2019s Articles of Agreement. <\/p>\n<p>\u201cVaccination is expected to help defeat COVID-19 and support the recovery. GDP growth is projected to pick up to 2.3 percent in 2021, as the sectors affected by stringent lockdown re-open. The new Southern Gas Corridor pipeline will boost exports of natural gas, mitigating the decline in oil production,\u201d the IMF noted.<\/p>\n<p>Following a sharp widening in 2020, the consolidated budget deficit is projected to remain high at 5.6 percent of GDP, owing to continued COVID-19 spending and increased reconstruction spending, before starting to narrow in 2022, according to IMF analysts. <\/p>\n<p>Higher oil prices should improve the current account, turning it to a surplus of 2.4 percent of GDP from a small deficit in 2020, they added.<\/p>\n<p>Azerbaijan faced unprecedented challenges in 2020, according to the report. <\/p>\n<p>\u201cEconomic activity contracted by 4.3 percent, driven by the hydrocarbon, contact-intensive and transportation sectors. Inflation remained low, under 3 percent. Fiscal balance moved from a sizable surplus in 2019 to a large deficit, and the current account balance weakened as well. Increased health spending and a sizeable economic relief package helped save lives and livelihoods and cushion the economic impact from the pandemic and the decline in oil prices.\u201d<\/p>\n<\/p><\/div>\n<p><script>\n    !function(f,b,e,v,n,t,s)\n    {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n        n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n        if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n        n.queue=[];t=b.createElement(e);t.async=!0;\n        t.src=v;s=b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t,s)}(window, document,'script',\n        'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n    fbq('init', '800789640666009');\n    fbq('track', 'PageView');\n<\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/>https:\/\/report.az\/en\/energy\/imf-sgc-pipeline-to-boost-exports-of-natural-gas-mitigating-decline-in-oil-production\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Risks to the outlook of the Azerbaijani economy are broadly balanced, although uncertainty about the future of the pandemic remains high, Report informs referring to a report by the International Monetary Fund (IMF) following consultations with the Azerbaijani government under Article IV of the IMF\u2019s Articles of Agreement. \u201cVaccination is expected to help defeat&hellip; <a class=\"more-link\" href=\"https:\/\/qia.az\/en\/imf-sgc-pipeline-to-boost-exports-of-natural-gas-mitigating-decline-in-oil-production\/\">Continue reading <span class=\"screen-reader-text\">IMF: SGC pipeline to boost exports of natural gas, mitigating decline in oil production<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":6695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[889,576,706,570,886,891,890,52,888,231,887],"class_list":["post-6694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-slider","tag-boost","tag-decline","tag-exports","tag-gas","tag-imf","tag-mitigating","tag-natural","tag-oil","tag-pipeline","tag-production","tag-sgc","entry"],"_links":{"self":[{"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/posts\/6694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/comments?post=6694"}],"version-history":[{"count":0,"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/posts\/6694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/media\/6695"}],"wp:attachment":[{"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/media?parent=6694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/categories?post=6694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qia.az\/en\/wp-json\/wp\/v2\/tags?post=6694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}