World Bank raises forecast on Azerbaijan


June 9, Fineko/abc.az. The World Bank has raised the forecast of Azerbaijan's economic growth for 2021 by 0.9 percentage points compared with January up to 2.8%.

ABC.AZ reports that this is stated in the June’s issue of WB's Global Economic Outlook report.

According to the document, in 2022-23 the economic recovery in Azerbaijan will be at the level of 3.9% and 3.4%, respectively.

"Economic growth in Azerbaijan will be supported mainly by the stabilization of oil prices, as well as investment and reconstruction spending.

In addition, the ceasefire agreement signed last November between Armenia and Azerbaijan, despite the high risks to stability, has reduced geopolitical tensions in the region.