16:43 - 12.01.2023

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January 12, Fineko/abc.az. Fitch Solutions predicts slowdown in Azerbaijan's economic growth to 3.7% in 2023.

ABC.AZ informs that according to Agency’s report, the fall in oil and gas prices in 2023 could have serious impact on the country's energy sector, which accounts for more than 50% of Azerbaijan's economy.

"Nevertheless, the formation of fixed capital will contribute to growth in 2023 and in subsequent years, since as European demand for energy exports to Azerbaijan grows, investments in capacity building are required," Fitch Solutions emphasized.

The Agency also stressed that the Azerbaijani economy in 2023 will show growth relative to the 1.3% growth recorded in the period from 2011 to 2021.