BAKU. Azerbaijan. March 3
By Zeyni Jafarov - Trend:
Azerbaijan's GDP will increase by 4 percent in 2021, after a four-percent decline in 2020, Trend reports citing the report of the Moody’s international rating agency.
The growth of the Azerbaijani economy will reach 3 percent by 2022, which means a decline of one percentage point as compared to the 2021 forecast.
In turn, the Standard & Poor's (S&P) international rating agency expects that the GDP of Azerbaijan in 2022-2024 will grow by an average of 3.9 percent, and the production of gross domestic product (GDP) in Azerbaijan in 2021 will be at the level of $45 billion. Real GDP growth, which slowed in 2020, is set to rise to 2.1 percent in 2021.
Earlier, the Minister of Economy of Azerbaijan, Mikayil Jabbarov, spoke about the task of Azerbaijan to double the country's GDP by 2030 in accordance with the new 10-year development plan, which requires an average annual growth of the economy by 7 percent.
According to Jabbarov, the gross domestic product is projected to grow by 3.4 percent after falling by 4.3 percent in 2020.
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