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World Bank predicts Azerbaijan's GDP growth for 2023-2024

Economy Materials 11 January 2023 09:46 (UTC +04:00)
World Bank predicts Azerbaijan's GDP growth for 2023-2024
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 11. Azerbaijan's GDP is expected to grow by 2.8 percent (0.6 percent more than previously forecasted) in 2023, Trend reports via the World Bank (WB) Global Economic Prospects report.

According to the report, this figure will increase by 2.6 percent in 2024.

Thus, the World Bank predicted the average annual GDP growth rate of Azerbaijan at the level of 2.7 percent from 2023 through 2024.

The WB also estimated the GDP growth of Azerbaijan in 2022 at the level of 4.2 percent.

"The GDP of the countries of the South Caucasus in 2023 will grow by 3.3 percent, and in 2024 – by 3.5 percent after a growth of 6.5 percent in 2022," the WB added.

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