BAKU, Azerbaijan, April 16. This week, a Protocol on an Amendment to the "Preferential Trade Agreement between the Government of the Republic of Azerbaijan and the Government of the Republic of Türkiye" was initialed, Trend reports.
The agreement on a new list of goods to be subjected to trade concessions will further strengthen the trade partnership.
Furthermore, it was noted this week that new digital solutions on money transfers are being prepared in Azerbaijan.
Also, the International Monetary Fund (IMF) published an April report, in which the inflation rate in Azerbaijan is expected at 9 percent in 2023.
As of 2024 forecast, the inflation rate in the country is projected to slow down to 7 percent. The IMF analysts expect Azerbaijan's inflation rate to drop further in 2028 to 4 percent.
Moreover, IMF analysts expect Azerbaijan’s current account balance to be at 19.2 percent of GDP in 2023.
The IMF economists estimate the country's current account balance at 17.4 percent in 2024, and 8 percent in 2028.
In addition, analysts at the Dutch ING company forecast the average annual rate of inflation at 10.3 percent in Azerbaijan in 2023.
For 2024, the company forecasts an average annual inflation rate of five percent, and for 2025 - 4.5 percent.
This week, the European Bank for Reconstruction and Development (EBRD) revealed its portfolio of projects in Azerbaijan.
The loan portfolio of the EBRD projects in Azerbaijan was estimated at 843 million euro as of February 28, 2023.
The major part of the investment portfolio (86 percent or 748 million euro) focuses on sustainable infrastructure, 10 percent (87 million euro) – on industry, trade and agriculture, and four percent (30 million euro) – on financial institutions.