Azerbaijan's economy grew by more than 7% in the 4Q of last year

# 14 January 2022 18:52 (UTC +04:00)

Azerbaijani economy grew by 5.6% in real terms in 2021, according to the preliminary data, APA reports.

According to the calculations held by APA-Economics based on the information of the State Statistics Committee, real GDP in the country increased by 7.5% in the fourth quarter of last year in comparison to the same quarter in 2020.

Notably, calculations held by APA-Economics on the basis of the main scenario of the latest forecast of the Ministry of Economy of Azerbaijan on real GDP (average price of $ 50 per barrel), forecasted that in the fourth quarter of 2021, the country's GDP would grow by 5.6-5,9%. Last year's actual real GDP growth rate (5.6%) exceeded the forecast of the Ministry of Economy (5.1%).