11:08 - 6.09.2024

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September 6, Fineko/abc.az. The World Bank (WB) has updated the forecast of economic growth in Azerbaijan, ABC.AZ informs, referring to World Bank's report on the global economy.

The WB forecasts growth of GDP in Azerbaijan by 2.3% in 2024 and by 2.4% in 2025. This is 0.1% less than bank's forecast for January 2024. The WB also announced that economic growth in Azerbaijan in 2026 will be 2.4%.

The WB predicts that overall economic growth in the South Caucasus countries will stabilize at about 3.5% in 2024-2026.
"Azerbaijan's hydrocarbon exports are expected to recover somewhat, which was significantly lower in 2023. This recovery is expected to counterbalance the slowdown after unusually high growth in Armenia and Georgia in recent years. The growth of trade between the countries of the region as a result of the occupation of Ukraine will continue," the report says.