BAKU, Azerbaijan, June 10. S&P Global Ratings agency forecasts that the nominal GDP of Azerbaijan for 2023 will stand at $77 billion, Trend reports.
According to the S&P report, nominal GDP is projected at $81 billion in 2024, $84 billion in 2025, and $87 billion in 2026.
Besides, the agency predicts the average annual economic growth rate of Azerbaijan for 2024-2026 to make up 1.4 percent.
According to the forecast of UK Center for Economics and Business Research (CEBR), the nominal volume of Azerbaijan's GDP will increase from $73 billion in 2023 (against $70 billion in 2022) to $90 billion in 2032 and to $112 billion in 2037.
This is while the Dutch ING [International Netherlands Group] estimates that from 2022 through 2025, the average annual growth of the Azerbaijani economy will be 3.2 percent.
In 2022, Azerbaijan's nominal GDP amounted to 133.8 billion manat ($78.7 billion).