Forecast: Azerbaijan's GDP to grow by 2% this year

15:48 - 29.03.2021

March 29, Fineko/abc.az. The European Bank for Reconstruction & Development (EBRD) forecasts Azerbaijan's GDP growth at the level of 2% in 2021, ABC.AZ reports with reference to the bank.

"The EBRD forecasts GDP growth of Azerbaijan for 2021 at the level of 2% due to the stabilization of oil prices," it is reported.

The Azerbaijani Ministry of Economy forecasts GDP growth at 3.4% this year.

The decline in Azerbaijan's GDP for 2020 was 4.3% due to restrictions related to Covid-19 and reduction in oil production within OPEC+.

 

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