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WB forecasts economic growth by 1.9% and IMF by 2% in Azerbaijan

21.01.2021,12:25


January 21, Fineko/abc.az. Economy Minister Mikayil Jabbarov gave an interview to Bloomberg and touched upon a number of important points.

ABC.AZ reports that according to the minister, last year GDP was projected at the level of 3.4% after decline of 4.3%.

Jabbarov noted that our forecasts for 2021 are more optimistic than the forecasts of the International Monetary Fund and the World Bank: "The WB forecasts economic growth by 1.9% and the IMF by 2% in Azerbaijan this year. Despite the fact that growth depends on the successful vaccination program launched in the country on Monday, we believe in other areas that are important for the prosperity of the Azerbaijani economy. The economy of the former Soviet Union's third-largest oil producer contracted last year for the first time since 2016. This was promoted by isolation measures against the background of the epidemic and the fall in oil prices."