WB forecast: Azerbaijan`s GDP decline by 5% for 2020

12:40 - 6.01.2021


January 6, Fineko/abc.az. The World Bank has presented the January’s report - Global Economic Prospects (GEP).

The WB expected Azerbaijan's GDP to decline by 5% in 2020.

Azerbaijan's GDP growth will reach 1.9% in 2021, and economic growth will accelerate up to 4.5% in 2022.

In October 2020 the WB predicted decline in Azerbaijan's GDP for 2020 at the level of 4.2%, economic growth in 2021 by 1.9%, in 2022 by 2.8%.

The report says that as oil prices stabilize and spending on investment and economic reconstruction increases, economic activity is expected to expand in Azerbaijan.

By Elmir Murad

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