Azerbaijan’s oil production went up 0.7% to 24.7million tonnes in the first half of 2016, while natural gas output rose by 500million cubic metres, according to the country’s statistics committee.
But Azerbaijan’s economy still contracted by 3% compared with the first sixth months of 2015, the committee said, Reuters reported.
Low oil prices and currency devaluation caused the country’s economic growth to slow to 1.1% last year from 2.8% in 2014.
Azeri authorities are forecasting 1.8% growth this year.
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