S&P forecasts GDP growth in Azerbaijan over next three years
Baku, Azerbaijan, July 6
By Eldar Janashvili - Trend:
In 2021, Azerbaijan’s GDP growth will increase by 3.1 percent and almost double compared to 2018, Trend reports referring to the agency Standard & Poor's Global Rating.
According to the agency, the GDP growth in 2019 and 2020 will be 2.5 percent and 3 percent, respectively.
Estimates by the International Monetary Fund (IMF) and the international rating agency Fitch Ratings are more optimistic. According to the IMF report, the country's economy will grow by 2.7 percent in 2019. Fitch Ratings believes that the Azerbaijani economy will grow by 3.5 percent in 2019.
Real GDP growth in Azerbaijan in 2018 was 1.4 percent, though the expected growth was 2 percent. GDP growth was 2.8 percent in January-May 2019.
The Azerbaijani government predicts GDP growth in 2019 to be 3.6 percent.