The International Monetary Fund has raised its economic growth forecast for Azerbaijan
The International Monetary Fund (IMF) predicts GDP growth of 2.8% in Azerbaijan this year. It should be noted that the report published in October last year estimated this figure for Azerbaijan at 2.3%. The IMF expects the Azerbaijani economy to grow by 2.6% in 2023. The statement came from Joshgun Jafarov, an analyst at the Center for Analysis of Economic Reforms and Communication. The analyst also noted that in the April issue of the "World Economic Outlook" report entitled "War Sets Back The Global Recovery", the forecast for global economic growth was lowered from 4.4% to 3.6%. One of the main reasons for this is the Russian-Ukrainian war and its aftermath, which significantly slowed down global economic development.
The report lowers economic growth expectations for the group of developed countries from 3.9% to 3.3% in 2022 and from 2.6% to 2.4% in 2023.
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