IMF: Azerbaijan’s economy to grow 3.4% in 2019

  09 April 2019    Read: 999
IMF: Azerbaijan’s economy to grow 3.4% in 2019

The growth rate of Azerbaijan’s economy may accelerate to 3.4 percent in 2019, Trend reports with reference to the World Economic Outlook by of the International Monetary Fund (IMF) on April 9.

Azerbaijan’s GDP will grow 3.1 percent in 2020, according to the report.

The growth of Azerbaijan’s economy exceeds the average indices for the Commonwealth of Independent States (CIS) (2.2 and 2.3 percent, respectively) and for the countries exporting energy to the CIS (2.1 and 2.2 percent, respectively).

In 2018, the economy of Azerbaijan grew 1.4 percent.

While 2019 started out on a weak footing for global economy, a pickup is expected in the second half of the year. This pickup is supported by significant policy accommodation by major economies, made possible by the absence of inflationary pressures despite closing output gaps. The US Federal Reserve, in response to rising global risks, paused interest rate increases and signaled no increases for the rest of the year.

The global economy is expected to grow 3.3 percent in 2019 and 3.6 percent in 2020.

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