Azerbaijan's H1 GDP falls 3.4 pct - stats committee

   

"The decline in gross domestic product in January-June was caused by a decline in output and services in the construction sector by 33.6 percent," the committee said in a statement.

   

The oil sector rose by 2.1 percent, while the non-oil sector declined by 6.1 percent.

   

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.

   

The country forecasts 1.8 percent growth in 2016.