BAKU, Azerbaijan, December 7. S&P Global Ratings projects Azerbaijan’s real GDP growth at 4.5 percent for 2024, up from its previous forecast of 2.5 percent, TurkicWorld reports, citing S&P.
The agency expects the country’s economic growth to average 2 percent between 2025 and 2027.
Additionally, S&P forecasts Azerbaijan’s nominal GDP to reach 126 billion manats ($74 billion) in 2024, 127 billion manats ($75 billion) in 2025, 132 billion manats ($78 billion) in 2026, and 137 billion manats ($81 billion) in 2027.
For comparison, the UN forecasts Azerbaijan’s GDP growth at 2.6 percent in 2024, the World Bank at 3.2 percent, Moody’s at 2 percent, and the European Bank for Reconstruction and Development at 3.8 percent in 2024 and 2.7 percent in 2025.
Meanwhile, the Asian Development Bank projects GDP growth at 2.7 percent in 2024 and 2.6 percent in 2025, while ING expects 4.2 percent growth in 2024, 2.6 percent in 2025, and 2.8 percent in 2026.
