BAKU, Azerbaijan, Oct. 14
By Zeyni Jafarov – Trend:
The International Monetary Fund (IMF) forecasts Azerbaijan's current account deficit to equal 3.6 percent of GDP in 2020, Trend reports citing the October release of the IMF's ‘World Economic Outlook’ report.
According to the report, in 2021 and 2022, Azerbaijan's current account deficit will be 4.4 and 2.8 percent, respectively. However, in April this year, the IMF forecasted the country's deficit to be 8.2 percent of GDP in 2020 and 3.7 percent in 2021.
Along with this, the World Bank (WB) predicted that this year the deficit will be 0.7 percent, and in 2021 it will return to a surplus of 1.6 percent of GDP. Thus, the WB forecast is considered more optimistic.
In 2019, the IMF recorded a surplus of the current account in Azerbaijan, which amounted to 9.1 percent of GDP, having decreased by 3.7 percentage points year on year.
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