BAKU, Azerbaijan, October 18. Azerbaijan's current account surplus is expected to amount to $12.6 billion, or 16.3 percent of GDP, in 2023, compared to 19.7 percent in the previous forecast, Trend reports.
The report of the International Monetary Fund (IMF) shows that Azerbaijan's current account surplus will amount to $12.7 billion, or 15.7 percent of GDP, in 2024, while in the April report this figure was estimated at 17.4 percent.
The current account surplus of Azerbaijan's balance of payments amounted to about $5.2 billion, or 14.5 percent of GDP, following the results of the first half of the current year.
According to the base scenario of the Central Bank of Azerbaijan, the account surplus will amount to 15 percent of GDP by the end of 2023.
The data from the Central Bank of Azerbaijan (CBA) shows that Azerbaijan's current account surplus in 2022 increased 2.83 times year-on-year, rising from $8.3 billion to $23.5 billion (29.8 percent of Azerbaijan's GDP). At the same time, the current account surplus in the oil and gas sector doubled to $28.7 billion last year, while the non-oil sector recorded a deficit of $5.2 billion (down 9.4 percent).