BAKU, Azerbaijan, June 8. As a result of the country's sustained economic growth, S&P Global Ratings projects that Azerbaijan's nominal GDP will reach 129 billion manat ($75.8 billion) in 2024, Trend reports.
According to the company, in 2025, nominal GDP will amount to 130 billion manat ($76.4 billion), while in 2026, Azerbaijan's nominal GDP will rise to 135 billion manat ($79.4 billion).
Meanwhile, a significant increase in nominal GDP is forecast for 2027 - up to 140 billion manat ($82.3 billion).
To note, S&P Global Ratings has affirmed Azerbaijan's long-term and short-term sovereign credit ratings in foreign and local currency at “BB+/B”.
Azerbaijan's GDP in 2023 increased by 1.1 percent compared to 2022 - up to 123 billion manat ($72.3 billion).
Launched on July 2, 2012, S&P Global is the world's largest global resource for index-based concepts, data, and research. S&P Global Ratings provides credit ratings, research, and insights required for growth and transparency in 27 countries. Local and global perspectives are offered by S&P Global Ratings analysts.
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