BAKU, Azerbaijan, July 26. The Central Bank of Azerbaijan (CBA) forecasts the country's four-to-five percent GDP growth by 2025, the Governor of the CBA, Taleh Kazimov, said during a press conference on changes in the parameters of the discount rate, Trend reports.
According to him, the country's non-oil sector is expected to grow by five to six percent over the above period.
"Our forecasts are based on the dynamic development of the Azerbaijani economy and other constantly growing macroeconomic indicators," he stressed.
Previously, the World Bank predicted Azerbaijan's GDP growth would be 2.8 percent in 2023 and 2.6 percent in 2024. According to estimates, the nominal GDP of Azerbaijan for 2023 will be 111.6 billion manat ($65.6 billion).