Azerbaijan's current account will be in surplus until 2028, S&P report says

Azerbaijan
# 10 June 2024 12:54 (UTC +04:00)

The current account of Azerbaijan's balance of payments will be in surplus until 2028, APA-Economics reports citing report of the international credit rating agency S&P Global Ratings on the approval of Azerbaijan's sovereign credit ratings.

According to S&P's forecast, this year's current account surplus will be 10.3% of GDP, 6.9% in 2025, 5,7% in 2026, and 4,6% in 2027.

The rating agency also forecasted that the ratio of trade balance to GDP to be at 17% this year, 14.3% in 2025, 13.2% in 2026, and 12.2% in 2027.

Noted that according to the indicators revealed by the Central Bank of the Republic Azerbaijan, the surplus of the current account in 2023 was 11.5% of GDP, i.e. USD 8 billion 329.4 million. Taleh Kazimov, Chairman of Central Bank of the Republic of Azerbaijan announced that by the end of 2024, the CBA's surplus will be USD 7 billion dollars, and in 2025, it will be at the level of USD 6.5 billion.

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