BAKU, Azerbaijan, December 28. According to the Central Bank of Azerbaijan (CBA), the economy's actual growth rate in 2024 is predicted to be 3-3.5 percent, with the non-oil and gas sector growing at a pace of 5-5.5 percent, Trend reports, referring to the CBA's statement on the main directions of monetary policy for 2024.
The growth of the real sector of Azerbaijan's economy is forecast to continue in 2024.
"Large-scale reconstruction work in territories liberated from Armenian occupation will boost economic growth next year. The country's macroeconomic stability will remain one of the primary requirements for achieving the economic growth forecast. The government, international financial and credit organizations, and prominent rating agencies are confident about Azerbaijan's economic growth prospects," the CBA states.
One of the goals set by the Central Bank of Azerbaijan for 2024 is to improve macroeconomic forecasting by considering the use of artificial intelligence (AI) in analysis and economic models.
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