World Bank's economic growth forecast for Azerbaijan not changed

World Bank
# 09 January 2020 09:40 (UTC +04:00)

Economic growth forecast of the World Bank in Azerbaijan for 2020 has not changed, APA-Economics reports citing World Bank's Global Economic Prospects report.

The World Bank is forecasting modest economic growth in 2020 as it trimmed back its outlook in the face of a possibly heightened trade war between the United States and China.

In its Global Economic Prospects report published on January 8, the 189-country lending institution projected that the global economy will grow 2.5 percent this year, just slightly better than the 2.4 percent estimated for 2019 but slower than the 2020 forecast previously released.

In the South Caucasus - Armenian, Azerbaijan, and Georgia - growth was estimated at 3.7 percent in 2019 but is seen falling to 3.1 percent this year. Azerbaijan’s growth is forecasted at 2.3 percent for 2020, which is not different from the Bank's last forecast for October of 2019.