17:58 - 8.10.2020
October 8, Fineko/abc.az. The World Bank forecasts that Azerbaijan's current account balance deficit will make up 0.7% of GDP.
ABC.AZ reports that according to WB’s updated report on Europe & Central Asia, country's current account of operations will return to surplus next year and will reach 1.6% of GDP.
WB’s forecast on this indicator for 2022 is 4.7%. The main cause of this year’s deficit is the low volume of oil exports. The Bank notes that the pressure on the balance of payments financial account is expected to ease by the end of this year, and the general balance of payments deficit will be 1.4% of GDP. In 2019, the total balance of payments surplus was 10.7% of GDP, and in the 1st half of 2020 the surplus was replaced by deficit of 2.8% of GDP.
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