Azerbaijan's GDP growth will be 3.5% in 2022 - S&P

24 İyul 2022 16:18 | 2 509

"S&P Global Ratings" international rating agency has improved the growth forecast of Azerbaijan's economy for 2022 from the previously expected 2.7% to 3.5%, SIA cites agency's press release.

According to the agency's forecasts, Azerbaijan's GDP growth forecasts for 2023-2025 have remained unchanged since January. In 2023-2024, this number will be 1.5%, and in 2025, it will be 1%. The average annual growth of Azerbaijan's economy is expected to be approximately 1.3% in 2023-2025.

S&P estimates the nominal GDP of Azerbaijan at 72 billion dollars for 2022 (61 billion dollars in January), 69 billion dollars (60 billion dollars) in 2023, 61 billion dollars (58 billion dollars) in 2024, and for 2025- predicts at the level of 64 billion dollars ($ 61 billion) per year.

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