BAKU, Azerbaijan, Oct.26
By Fidan Babayeva – Trend:
S&P agency expects Azerbaijan's GDP to contract by 6.9 percent in 2020, then grow by about 3 percent in 2021, 5 percent in 2022 and 3 percent in 2023, Trend reports with reference to the agency.
Despite the decline in hydrocarbon prices and the economic recession in 2020, the economic growth will resume and from 2021 will prevent a significant deterioration in Azerbaijan's fiscal and external positions.
According to forecasts of the S&P agency, Azerbaijan's GDP per capita in 2020 will be $4,000, and in 2021 - $4,400.
Investment growth in real terms will decline by 4 percent in 2020 and will increase by 5 percent in 2021.
From January through September 2020, the volume of Azerbaijan's GDP declined by 3.9 percent compared to the same period of 2019 and amounted to over 52 billion manat ($30.5 billion).
(1 USD = 1.7 manat on Oct. 26)
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