S&P updates Azerbaijan's GDP growth forecast for 2021

  23 June 2021    Read: 140
 S&P updates Azerbaijan

Standard & Poor's Global Ratings predicts Azerbaijan's GDP growth in 2021 at 2.4%, AzVision.az reports citing Interfax

In January 2021, the agency's forecast for the growth of those indicators in the current year was 2.1%.

"According to our estimations, the indicated growth rate of real GDP in Azerbaijan will be 2.4% in 2021 and an average of 4.7% during 2022-2023 after the economic downturn in the past caused by the COVID-19 pandemic. 

The Azerbaijani government forecasts that GDP will grow by 3.4% for 2021.

The decline in Azerbaijan's GDP in 2020 amounted to 4.3% due to restrictions in regard to COVID-19 and a reduction in oil production within the OPEC + deal.

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