Bank Of Baku

S&P Global Ratings sharply increases Azerbaijan's economic growth forecast

S&P Global Ratings sharply increases Azerbaijan
# 07 December 2024 09:07 (UTC +04:00)

S&P Global Ratings has set a forecast for Azerbaijan's economic growth for 2024-2027, APA-Economics reports citing the international rating agency.

The real gross domestic product (GDP) growth forecast for 2024 has been increased from 2.5% to 4.5%.

S&P has set a 2% economic growth forecast for the country in 2025-2027. In other words, the rating agency has improved its forecast for 2024 by 2 percentage points and its forecast for 2026-2027 by 0.5 percentage points.

The rating agency also projected nominal GDP in Azerbaijan at $74 billion in 2024, $75 billion in 2025, $78 billion in 2026, and $81 billion in 2027.

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