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ADB announced economic growth forecast of CCA region, which includes Azerbaijan

ADB announced economic growth forecast of CCA region, which includes Azerbaijan

19 July 2023 09:47 (UTC +04:00)

The Asian Development Bank (ADB) reduced its economic growth forecasts for the Caucasus and Central Asian countries (CCA), which includes Azerbaijan, APA-Economics reportsciting ADB.

The Bank noted that growth forecasts for the Caucasus and Central Asia are adjusted down from 4.4% to 4.3% in 2023 and from 4.6% to 4.4% in 2024 after oil production in Azerbaijan fell more than expected.

ADB also increased the inflation forecast for the region from 10.3% to 10.6% for 2023 and from 7.5% to 7.8% for 2024 compared to the April report.

Rahim Tariverdiyev

ADB Asian Development Bank inflation forecast growth forecast

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