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S&P Global Ratings: Unemployment rate in Azerbaijan will drop to 4.5%

10 June 2024 13:08 (UTC +04:00)

The international credit rating agency S&P Global Ratings announced that Azerbaijan's unemployment rate will drop from 5% to 4.5%, this was stated in the rating agency's report on the approval of Azerbaijan's sovereign credit ratings, APA-Economics reports.

According to the S&P forecast, the unemployment rate will drop to 4.7% this year, following 4.5% in 2025. The figure will remain unchanged in the years 2026 and 2027.

Note that foreign financial organizations usually estimate Azerbaijan's unemployment rate at around 5-6%. The International Monetary Fund predicted the unemployment level in Azerbaijan to be 5.5% for 2024-2025.