High energy prices will have a positive impact on the export revenues of energy-exporting countries, including Azerbaijan, APA-Economics reports, citing the World Bank’s forecast on the global economy.
It was noted that high commodity prices are expected to support the export revenues of energy exporters such as Azerbaijan, Kazakhstan and Turkmenistan. At the same time, the World Bank forecasts that economic growth in commodity-exporting countries will remain limited over the medium term.
The report states that energy exporters will strengthen their fiscal consolidation opportunities through higher oil and gas revenues and will demonstrate improved current account balances.
According to the World Bank’s assessment, most countries in Europe and Central Asia are energy importers and will therefore face the negative effects of high energy prices. Since January, the largest downward forecast revisions have been recorded for Romania, Türkiye, Moldova and Ukraine.
The report also emphasizes that Armenia, Georgia, Moldova and Türkiye are among the countries most vulnerable to high energy costs. High energy prices are expected to increase inflation in these countries and put pressure on real incomes and external balance indicators.
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