IMF forecasts increase of Azerbaijan's GDP growth rate in 2024-2032

  08 February 2024    Read: 611
IMF forecasts increase of Azerbaijan

The International Monetary Fund (IMF) anticipates that Azerbaijan's average annual GDP growth will reach 2.3 percent per year between 2024 and 2028, with further growth thereafter, reports, referring to a document on the results of IMF consultations with Azerbaijani authorities on Article IV in the last quarter of 2023.

The IMF report projects that Azerbaijan's economy will expand at an average annual rate of 2.4 percent from 2029 to 2030, and then increase to 2.5 percent per year from 2031 to 2032.

Azerbaijan's GDP grew by 1.1 percent in 2023 compared to 2022.

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