BAKU, Azerbaijan, August 1. Azerbaijan's GDP growth in 2022 is expected at 3 percent, Trend reports via economic review from the Renaissance Capital investment bank.
According to the forecast, Azerbaijan's estimated GDP growth in 2023 is projected at 2.7 percent.
“We see no major drivers to revise the (fixed) Azerbaijani manat AZN1.70/$ rate forecast. Global fuel prices’ growth supports the strengthening of the current account of Azerbaijan”, the report said.
As the bank noted, Azerbaijan's economic growth will be largely supported by the investments in the territories liberated from Armenian occupation in 2020.
“Increased fiscal sustainability and solid accumulated buffers should limit downsides, we argue. In coming years, growth should also be supported by investments ($1.5 billion, or 2.2 percent of GDP in 2022) directed towards the development of [liberated] territories”, Renaissance Capital added.
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