Headline changed, details added (first version posted on 14:15)
Baku, Azerbaijan, Feb. 6
Moody's Investors Service changed Azerbaijan's government bond and issuer ratings, approving them at Ba1, on Feb. 6.
For 2017 the rating agency projects the GDP growth of around one percent, rising slowly thereafter, said Moody's in a message Feb. 6.
Earlier, international ratings agency Standard & Poor's forecasted that Azerbaijan's GDP growth will be two percent in 2017, four percent in 2018, and 4.5 percent in 2019.
Thus, the Standard & Poor's experts expect that GDP growth will reach 62 billion manats ($40 billion) in 2016, 69 billion manats ($44 billion) in 2017, 77 billion manats ($49 billion) in 2018, and 83 billion manats ($53 billion) in 2019.
According to the agency's forecasts, GDP per capita will grow as well standing at $4,100 in 2016, $4,500 in 2017, $5,000 in 2018, and $5,400 in 2019.