BAKU, Azerbaijan, August 9. ING analysts have released their forecast for Azerbaijan's GDP growth in the coming years, Trend reports.
The latest data shows that economic growth in Azerbaijan is projected to reach 3.5 percent in the third quarter of 2024, up from the previous forecast of 2.5 percent. Growth is expected to slightly slow to 3 percent in the fourth quarter of 2024.
For 2024, economists anticipate moderate GDP growth of 3.8 percent, revised from the earlier forecast of 2.8 percent, with 2.5 percent in 2025 and 2.8 percent in 2026.
According to ING’s forecasts, Azerbaijan's average annual economic growth from 2024 to 2026 will be 3.03 percent.
In comparison, the UN forecasts 2.6 percent GDP growth for Azerbaijan in 2024, the World Bank predicts 2.3 percent, and Moody’s forecasts 2 percent.
ING Group, headquartered in Amsterdam, is a Dutch multinational corporation offering a range of banking and financial services, including retail, direct, commercial, investment, wholesale, private banking, asset management, and insurance services.