BAKU, Azerbaijan, July 24
By Zeyni Jafarov - Trend:
Long-term and short-term sovereign credit ratings of Azerbaijan in foreign and national currencies have been affirmed at 'BB+/B' with a 'stable' outlook, Trend reports citing the Standard & Poor's (S&P) international rating agency.
According to the agency, on July 23, ratings and forecasts for sovereign, regional and local governments in Europe, the Middle East, and Africa were revised again.
S&P in its half-year review compares current credit ratings with the latest data on the effectiveness of the issuer, as well as with changes in financial markets.
Standard & Poor's predicts that Azerbaijan's GDP will grow by an average of 3.9 percent in 2022-2024.
The agency added that the banking sector of the CIS countries is subject to high credit risks.
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