BAKU, Azerbaijan, April 17. Azerbaijan's current account balance is expected to amount to 8.5 percent of GDP in 2024, Trend reports via the International Monetary Fund (IMF).
According to the IMF's April World Economic Outlook, the forecast for the current year was downgraded from the previous forecast for October 2023, amounting to 15.7 percent of GDP.
IMF analysts expect the country's current account balance to be 8.1 percent of GDP in 2025.
Meanwhile, S&P Global Ratings forecasts the ratio at 11.18 percent, while the World Bank forecasts 7.9 percent of GDP.
The Central Bank of Azerbaijan forecasts a current account surplus of $7-8 billion at the end of 2024.
In 2023, the current account surplus of Azerbaijan's balance of payments amounted to $8.3 billion, representing 11.5 percent of GDP.
In 2022, the current account surplus of Azerbaijan's balance of payments reached a record $23.478 billion, an increase of 2.8 times compared to the figure for 2021, or 23.5 percent of GDP, amid high oil and gas prices.