WB improves forecast on Azerbaijan

05.10.2022,11:52


October 5, Fineko/abc.az. Azerbaijan's GDP will grow by 4.2% in 2022.

ABC.AZ reports that the World Bank published this forecast on Tuesday in an updated economic survey for the region of Europe & Central Asia.

In April, the WB predicted Azerbaijan's GDP growth at 2.7% in 2022. The Bank also improved the forecast on our country’s GDP growth for 2023 up to 2.8% (April forecast – 2.2%) and for 2024 – 2.6% (April forecast - 2.3%).

"According to our estimates, Azerbaijan's real GDP growth will reach 4.2% in 2022 and 2.7% in 2023-2024. Moderate decline in oil production in the country is expected to be offset by increase in natural gas production," the WB emphasizes.