BAKU, Azerbaijan, Oct. 11
By Fidan Babayeva - Trend:
The World Bank predicts a surplus of net financial liabilities of Azerbaijan's balance of payments this year, Trend reports with reference to the updated World Bank report on Europe and Central Asia.
The surplus of net financial obligations of the balance of payments of Azerbaijan in 2020 will amount to 1.4 percent of GDP.
"The forecast for 2021 of a surplus of net financial liabilities of the balance of payments is also 1.4 percent. The World Bank predicts that in 2022 this figure will decrease to 1.2 percent," the information says.
As reported, the Ministry of Economy of Azerbaijan predicts a decline in GDP at the level of 2.9-4.3 percent by the end of 2020, depending on oil prices on world markets. Next year, GDP growth in Azerbaijan is projected at 3.4 percent.
The surplus of Azerbaijan's balance of payments in 2019 amounted to 9.1 percent of GDP or $4.4 billion.
As of early January 2020, Azerbaijan's external debt amounted to $9.09 billion or 18.9 percent of GDP.
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