IMF predicting decrease in Azerbaijan's unemployment rate

Finance Materials 15 October 2020 11:26 (UTC +04:00)
IMF predicting decrease in Azerbaijan's unemployment rate

BAKU, Azerbaijan, Oct.15

By Zeyni Jafarov – Trend:

The International Monetary Fund (IMF) has updated its forecast on unemployment rate in Azerbaijan, Trend reports citing IMF's World Economic Outlook report issued in October 2020.

According to the report, the unemployment rate in the country in the current year will make up 6.5 percent, which is 1.7 percent more than in 2019. Next year, unemployment is expected to decline to 5.8 percent, and in 2022 - to 5.7 percent.

Along with this, the Monetary Fund's April unemployment forecast for 2020 and 2021 was estimated at five percent.

The population of Azerbaijan in this forecast amounted to 10.1 million people in 2020, thus having grown by 119,000 compared to last year, while according to the State Statistics Committee of Azerbaijan as of September 1, 2020, the economically active population of Azerbaijan made up 5.2 million.


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