BAKU, Azerbaijan, Oct. 26
By Fidan Babayeva - Trend:
S&P Global Ratings expects export of Azerbaijan in real terms to increase 2.4 percent in 2021 and 8 percent in 2022, 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 significant deterioration in Azerbaijan's fiscal and external positions, said the agency’s report.
S&P forecasts 2.8-percent growth for Azerbaijan’s export in real terms in 2023.
Investments in the country's economy in 2021 will make up 21.6 percent of GDP, in 2022 - 20.8 percent, and in 2023 - 19.7 percent of GDP, the report said.
From January through September 2020, the volume of Azerbaijan's GDP decreased 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)
---
Follow the author on Twitter: @Fidan_Babaeva