According to the report of the International Monetary Fund, global economic growth will weaken
The International Monetary Fund (IMF) released the 2023 "Prospects for the development of the world economy" report. Commenting on the report, Deputy Head of Department of the Center for Analysis of Economic Reforms and Communication, Gunay Guliyeva said that the global economic growth indicator has decreased compared to 3.4 percent growth in 2022, and 2.8 percent is predicted for 2023. For 2024, this indicator will stabilize at 3 percent.
The report shows that economic growth in advanced economies will slow significantly from 2.7 percent in 2022 to 1.3 percent in 2023. In the alternative scenario where the financial sector deteriorates, indicators are predicted to fall even further, to 2.5 percent for the global economy, and below 1 percent for advanced economies. The report also predicts that inflation will decrease from 8.7 percent in 2022 to 7 percent in 2023 amid falling commodity prices.
In the IMF report, the economic growth for 2023 for Azerbaijan was predicted at the limit of 3 percent. Also, in the forecasts given for the country, it is predicted that the current account balance will be positive and the ratio of the current account balance surplus to the gross domestic product (GDP) will be at the level of 19.2%. This is a very high indicator compared to the countries of the region.
Related news
Training on the "Project Management" module has started at the CAERC
The Center for Analysis of Economic Reforms and Communication (CAERC) has organized a series of training sessions focused on the rules for utilizing a newly developed module aimed at improving the efficiency and centralization of…
"Azexport" portal and "Tradexter Global" bring Azerbaijani goods…
A memorandum of understanding was signed between Aykhan Qadashov, the head of the Azexport portal operated by the Center for Analysis of Economic Reforms and Communication, and Tradexter Global, a company based in Turkey, during a…
Ayaz Museyibov spoke about the role of artificial intelligence in increasing climate…
Ayaz Museyibov, Deputy Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC), participated as a speaker in a roundtable discussion titled "Policies for Climate-Resilient and Carbon-Free Economies…
The winner of the “StartUp School 2” project of the “Enterprise Azerbaijan” portal…
The winner of the “StartUp School 2 – AI for Green Solidarity” project, organized by the “Enterprise Azerbaijan” portal, which operates under the Center for Analysis of Economic Reforms and Communication,…
Enterprise Azerbaijan held "Graduation Day"
The “Graduation Day” of the “StartUp School 2 – AI for Green Solidarity” project, organized by the “Enterprise Azerbaijan” portal operated by the Center for Analysis of Economic Reforms and…
Vusal Gasimli participated in the "Think7" event
Professor Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reform and Communication attended the official handover ceremony of the coordination of the Center for International Governance Innovations (CIGI)…
Vusal Gasimli met with partners of the "StartUp School 2" project
Professor Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communication participated in a meeting with Mehmet Tosun, Head of the Ozmen Entrepreneurship Center at the University of Nevada, USA,…
The final stage of the "Startup School 2" project - hackathon will be…
The "Graduation Day" of the "StartUp School 2 – AI for Green Solidarity" project, organized by the "Enterprise Azerbaijan" portal operated by the Center for Analysis of Economic Reforms and Communication,…
Op-eds
Agil Asadov
Head of the Strategic planning division
Moody's: Growing influence of the Middle Corridor boosts economic prospects
Ayaz Museyibov
Deputy Executive Director of the CAERC
Azerbaijan and Türkiye: Leading through unity in global crises
Ayaz Museyibov
Deputy Executive Director of the CAERC
Türkiye-Kyrgyzstan partnership fuels Middle Corridor's rise
Shabnam Mammadli
Sector director of the Monitoring of socio-economic programs
The liquidation of "Azalternativenerji" LLC will serve to reduce the demand and risks for state resources
Tarana Salifova
Head of the Monitoring and evaluation division
The change made in the strategy of socio-economic development for 2022-2026 will stimulate high economic growth
Vusal Gasimli
Executive director of CAERC
The equilibrium real exchange rate in a commodity exporting country: Azerbaijan's experience
Gunay Guliyeva
Head of department at CAERC
Educational Loans Will Accelerate Economic Development