BAKU, Azerbaijan, January 4. According to the forecast by the Center for Economics and Business Research (CEBR), Azerbaijan's GDP is expected to reach $78 billion in current prices by 2025, Trend reports.
This projection is part of the World Economic League Table (WELT 2025) report published by the CEBR, which indicates that in 2024, Azerbaijan's GDP was valued at 76 billion dollars.
"Azerbaijan's GDP per capita in terms of purchasing power parity (PPP) was $24.6 in 2024. Economic growth is expected to accelerate to 3.2 percent in 2024, compared to 1.1 percent in the previous year, bringing the economic output to 10.5 percent higher than in 2019.
The national debt as a percentage of GDP is forecast to decrease from 21.8 percent in 2023 to 20.5 percent in 2024. A budget surplus of one percent of GDP is expected for 2024," the report said.
Notably, Azerbaijan's Ministry of Finance forecasts the country's GDP to reach 129.2 billion manat ($75.9 billion) this year.
According to the forecasts of the Central Bank of Azerbaijan, the real economic growth rate in 2025 will be 3.3 percent, including 5.1 percent in the non-oil sector. ING forecasts growth in 2025 at 2.6 percent, the European Bank for Reconstruction and Development at 2.7 percent, and the Asian Development Bank at 2.6 percent.