The Netherlands' largest financial group, ING Group, has updated its forecast regarding the Azerbaijani economy, APA-Economics reports.
ING has projected economic growth of 1.5% in 2025 and 2.8% in 2026.
Compared to the previous forecast, ING has lowered the growth forecast for this year by 0.8 percentage points and increased it by 0.3 percentage points for 2026.
According to the bank’s forecasts, nominal GDP will be 79.6 billion US dollars by the end of 2025, and 81.3 billion US dollars next year.
ING also forecasts that the average annual inflation in Azerbaijan will be 5.1% in 2025 and 5.8% in 2026.
Compared to previous forecasts, expectations for the current year have decreased by 0.4 percentage points, while for the next year they have increased by 0.5 percentage points.
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