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Azerbaijan's economy shows positive tendencies in March 2021, says WB

Finance Materials 16 May 2021 17:52 (UTC +04:00)
Azerbaijan's economy shows positive tendencies in March 2021, says WB

BAKU, Azerbaijan, May 16

By Zeyni Jafarov - Trend:

Azerbaijan’s economy showed positive tendencies in March 2021, supported by growth in the non-oil sector, after a year's contraction, the World Bank (WB) said in its monthly report, Trend reports.

According to the WB’s report, starting from May, a gradual recovery of the country's economy is expected amid a decrease in the number of coronavirus (COVID-19) cases.

The weakening of the COVID-19 pandemic since early May has made it possible to ease restrictions and this, apparently, will support the further recovery of the Azerbaijani economy, predicted the bank.

According to the State Statistics Committee, Azerbaijan's GDP in the first 4 months of 2021 decreased by 0.2 percent compared to the same period of last year, making up slightly over 25 billion manat ($14.7 billion).

Overall, according to the forecasts of the World Bank, growth in GDP of Azerbaijan will amount to 2.8 percent in 2021 .

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