BAKU, Azerbaijan, Jan.12
By Leman Zeynalova – Trend:
Azerbaijan’s real GDP growth is expected to stand at 3.1 percent and 2.7 percent in 2022 and 2023, respectively, Trend reports with reference to the World Bank (WB).
In its June forecast, WB estimated these figures at 3.9 percent and 3.6 percent.
The country’s GDP grew by 5 percent as of 2021, as compared to a decrease of 4.3 percent in 2020, says the World Bank.
“In Azerbaijan, growth is anticipated to decelerate over the forecast horizon but remain above its 2010-19 average rate, supported by an expansion in non-energy sectors, rising public investment, and stable energy sector growth in line with OPEC+ quotas and higher natural gas production,” reads the WB’s Global Economic Prospects report.
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