BAKU, Azerbaijan, July 3. The analysts from ING have presented a forecast on GDP growth in Azerbaijan for the coming years, Trend reports.
According to recent data, economic growth in the country is expected to rise to 3.5 percent in the second quarter of 2024. It is further expected to slow down slightly, with figures of 2 percent and 1.5 percent in the third and fourth quarters of 2024, respectively.
Economists generally expect moderate GDP growth in Azerbaijan at 2.8 percent (previously forecast at 2.5 percent) in 2024, 2.5 percent in 2025, and 2.8 percent in 2026.
Thus, based on ING forecasts, in 2024–2026, the average annual growth of Azerbaijan's economy will amount to 2.7 percent.
To note, the UN forecasts Azerbaijan's GDP growth in 2024 at 2.6 percent, the WB at 2.3 percent, and Moody's at 2 percent.
ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its principal activities include retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services.
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