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Next year, deficit of Azerbaijan’s current operations’ account to account for 3,1% of GDP - FORECAST

03 September 2020 11:45 (UTC +04:00)

It is forecasted that in 2021, the ratio of the deficit of the current operations’ account of Azerbaijan’s payment balance to the GDP will make up 3,1% or $ 1 377,2 mln., APA-Economics reports citing the statement of the Ministry of Finance regarding initial indicators of the state and round-up budgets of Azerbaijan for 2021.

According to the initial forecasts, during this year, this indicator will make up $1 539,6 mln. or 3,7%.

Note that although the deficit of the current operations account was expected to account for 1,1% of the GDP in 2022, it is anticipated that during 2023 and 2024, this indicator will change for surplus and will account for 1,4% and 2,3% of the GDP.

Remind that according to results of I quarter of this year, the surplus of current operations account of Azerbaijan made up AZN 1,1 bln. This accounts for 6% of the GDP. According to outcomes of 2019, this indicator accounted for 9,1% of the GDP.