BAKU, Azerbaijan, April 30. Azerbaijan’s current account surplus is predicted to increase by 11.6 percentage points to 26.8 percent of the GDP in 2022, Trend reports, citing the data from Fitch Ratings.
According to the report, the forecast for the same indicator in 2023 is moderate - 18.4 percent. However, this is still the highest index in the 'BB' peer group, Fitch noted.
Meanwhile, Azerbaijan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) is supported by the country’s strong external balance sheet, low public debt, and financing flexibility from large sovereign wealth fund assets.
Thus, Fitch has affirmed Azerbaijan’s IDR at 'BB+' with a Stable Outlook.
“The Stable Outlook balances the benefit of high energy prices in further boosting Azerbaijan's external and public finances,” Fitch said.
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