S&P Global Ratings international credit rating agency announced its expectations regarding economic growth in Azerbaijan, APA-Economics reports.
The agency's report stated that Azerbaijan's economic growth prospects for 2024-2025 are weaker than most regional countries.
S&P analysts noted that the pressure on economic growth is mainly due to the long-term gradual decline in oil production.
"In 2024-2025, we forecast real GDP growth at around 1.5% annually," the rating agency said.
Recall that previously, in June 2024, S&P announced that it increased its forecast for the growth of real GDP of Azerbaijan from 1.5% to 2.5%.
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