BAKU, Azerbaijan, April 17. The ratio of Azerbaijan's current account balance to gross domestic product (GDP) will amount to 11.18 percent this year, Trend reports via S&P Global Ratings.
According to S&P, the growth of the country's real exports will amount to 0.5 percent this year.
Meanwhile, the Central Bank of Azerbaijan forecasts a current account surplus of $7-8 billion by the end of 2024.
In turn, the World Bank forecasts the ratio of Azerbaijan's current account balance to GDP at 7.9 percent in 2024.
In 2023, the current account surplus of Azerbaijan's balance of payments amounted to $8.3 billion, which is 11.5 percent of GDP.
Azerbaijan's current account surplus of the balance of payments in 2022 amounted to a record $23.478 billion, up 2.8 times from 2021, or 23.5 percent of GDP amid high oil and gas prices.
