Fitch Ratings has announced its economic growth forecast for Azerbaijan, says agency's rating assessment for Azerbaijan, SİA reports.
Fitch noted that economic growth in 2024 increased to 4.1% due to the positive impact of the Karabakh recovery and the slowdown in the decline in oil production.
The rating agency predicted that the country's economic growth would be 3% in 2025 and 2.4% in 2026. This growth will again occur mainly due to public investment.
"The weight of the oil sector will decrease compared to previous years, as new oil production can slow the pace of decline and natural gas production will be high. Progress towards economic diversification is limited by large state involvement, limited access to affordable financing, governance problems and low non-energy foreign investment," the rating agency added.
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