BAKU, Azerbaijan, Oct.19
By Leman Zeynalova – Trend:
The International Monetary Fund (IMF) has revised up its forecasts for Azerbaijan’s non-oil GDP growth for 2021 and 2022, Trend reports with reference to the organization.
IMF’s October Regional Economic Outlook shows that Azerbaijan’s non-oil GDP will grow by 4.5 percent and 3.5 percent in 2021 and 2022, as compared to 3.5 percent and 2.5 percent in the April edition.
The country’s non-oil GDP fell by 2.6 percent y-o-y in 2020, according to the organization’s data.
The forecasts for Azerbaijan’s oil GDP growth have remained unchanged from the previous outlook standing at 0.2 percent for 2021 and 2022 each, as compared to a 7.2 percent decrease in 2020.
IMF forecasts Azerbaijan’s nominal GDP to grow from $42.6 billion in 2020 to $52.6 billion in 2021 and $54.7 billion in 2022, while in April edition those figures were estimated at $49.9 billion and $50.9 billion, respectively.
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