ADB raises Azerbaijan's GDP growth outlook

Finance Materials 22 September 2021 10:17 (UTC +04:00)
ADB raises Azerbaijan's GDP growth outlook

BAKU, Azerbaijan, Sept. 22

By Zeyni Jafarov - Trend:

Azerbaijan's GDP growth rate will reach 2.2 percent by late 2021, which is 0.3 percentage points more compared to 1.9 percent projected in April, Trend reports citing the September report of the Asian Development Bank (ADB), Asian Development Outlook-2021.

Along with this, ADB predicts Azerbaijan's economy to grow by 2.5 percent in 2022 (the April forecast was also 2.5 percent).

In 2020, Azerbaijan's GDP decreased by 4.3 percent on annual basis and amounted to 72.4 billion manat ($42.5 billion).

For the 8 months of this year, the country's GDP grew by 3.6 percent compared to the same period of last year - from 46 billion manat to 54.7 billion manat ($27 billion - $32.1 billion).


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