BAKU, Azerbaijan, June 23
By Fidan Babayeva - Trend:
The S&P Global Ratings international rating agency expects Azerbaijan's GDP growth by 2.4 percent in 2021, Trend reports citing the agency's data.
According to S&P estimates, Azerbaijan's real GDP growth rates are projected to be 2.4 percent in 2021 and 4.7 percent during 2022-2023, following the economic slowdown in 2020 caused by the COVID-19 pandemic.
The decline in Azerbaijan's GDP in 2020 amounted to 4.3 percent due to restrictions due to the pandemic and a reduction in oil production as part of the OPEC + deal.
In January 2021, S&P Global Ratings predicted the 2.1-percent growth for Azerbaijan's GDP in 2021.
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