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IMF predicts growth of Azerbaijan's non-oil GDP in 2024

Economy Materials 15 May 2023 14:29 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, May 15. The International Monetary Fund (IMF) has forecasted growth of Azerbaijan's oil GDP in real terms by 0.5 percent, and non-oil GDP – by 4.2 percent this year, Trend reports via the latest Regional Economic Outlook report of IMF.

According to the IMF, next year the country’s GDP in the non-oil sector will grow by 3.6 percent, and in the oil sector - 0.3 percent.

Besides, the IMF noted that Azerbaijan's GDP in the non-oil sector in 2022 in real terms grew by nine percent, and in 2021 - 7.2 percent.

The IMF is a UN specialized agency, which is the largest financial organization in the world.

Previously, the fund forecasted that Azerbaijan's nominal GDP in 2023 will amount to $70 billion and in 2024 - $74.5 billion.

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