BAKU, Azerbaijan, April 6. The ratio of international reserves to GDP of Azerbaijan is the highest among the CIS countries, Gulnara Khaidarshina, deputy head of the market analysis department at Russian Gazprombank, told Trend.
According to Khaidarshina, from January through March 2022, Azerbaijan's GDP grew by six percent year-on-year.
"Besides, inflation in the country in March 2022 amounted to 12.5 percent year on year. Azerbaijan's international credit ratings remained unchanged for two months of the year. So, S&P assigned a rating of BB +, Moody's - Ba2, and Fitch - BB + to Azerbaijan," the bank’s representative said.
Azerbaijan's GDP is projected to grow by five percent in 2022, and in 2023, the figure can rise by 2.5 percent.