IMF’s forecast: Caucasus states’ economies to grow


April 12, Fineko/abc.az. The economies of the Caucasus and Central Asia (CCA) region will increase by 3.7% this year and by 4.1% in 2022.

ABC.AZ reports that this is stated in April’s issue of the Regional Economic Outlook report of the International Monetary Fund (IMF).

According to the report, the region's GDP declined by 1.9% in 2020.

"We forecast that inflation in the CCA region for 2021 will be 6.9%, and in 2022 - 6.2%. GDP of the oil and gas exporting countries of the region will grow by 3.7% in 2021 and by 4% in 2022. GDP of these countries in the non-oil sector will grow by 3.5% in 2021 and by 4% in 2022.

We believe the consumer prices in these countries will be 7.1% and 6.5%, respectively," the report says.

The CCA region includes Azerbaijan, Armenia, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. The oil exporters in the CCA region are Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan.