According to the International Monetary Fund's traditional World Economic Outlook, economic growth in Azerbaijan is projected at 2.3 percent in 2021 and 1.7 percent in 2022. The IMF also predicts that the unemployment rate will be below 6 percent in the next two years.

Head of the Department of the Center for Analysis of Economic Reforms and Communication Ayaz Museyibov mentions that in a previous report of the IMF, published in October, the forecasts for 2021 demonstrated an economic growth rate of 2 percent

At the same time, the IMF updated its forecasts on the current account to positive. Thus, the current account deficit-to-GDP ratio in 2021 and 2022 was projected at 3.6 and 4.4 percent, respectively. At the same time, the new report estimates the corresponding deficit to be around 1.1 and 0.5 percent and to replace the surplus.

The Head of the Department Ayaz Museyibov said that the analysis of the report shows that the agency will record macroeconomic recovery in the country in the next two years. It should be noted that the previous report of the organization on the future of the world economy, published on January 26, also had positive signals about Azerbaijan.

The global economy has also been predicted to grow by 6 percent in 2021 and 4.4 percent in 2022. It should be noted that compared to the previous report, these figures are 0.8 and 0.2 percentage points higher, respectively.

Thus, forecasts predicting that the pandemic would end with the intensification of vaccination processes, which had started from December 2020, and economic support policies adopted at the end of the year in large economies such as the United States and Japan, have accelerated the recovery of the global economy. At the same time, fiscal and monetary anti-shock measures taken by such developing countries as Azerbaijan and young economies are indicated in the relevant forecasts as positive measures.

Another important point about the economic growth and rankings of Azerbaijan is related to the rates provided by Moody’s International Rating Agency. Moody’s has changed the outlook on Azerbaijan's rating to positive from stable and affirmed the long-term issuer and senior unsecured debt ratings at Ba2. The positive outlook reflects Moody's assessment that governance and in particular policy effectiveness is improving, which may raise the resilience of the government's credit profile. The analysts of the agency conclude that enhancements to the monetary and macro policy framework will serve to promote stability in the external and banking sectors in the face of shocks, liquidity, and mitigation of foreign sector risks. It should be mentioned that earlier the rating of Southern Gas Corridor CJSC (SGC) was changed to positive.

The fact that in their reports both institutions have changed their forecasts to positive regarding the economic growth in Azerbaijan in the coming years indicates the opportunities for future development. From the point, within the framework of the Document on National Priorities, re-design of ways to develop the economy of Azerbaijan, new investment and rehabilitation policy on the reintegration of liberated lands, adoption of rules on development and monitoring of state programs, relevant measures on improvement and digitization of state control, and, generally, the implementation of economic steps within strategic management policy will facilitate the improvement of mentioned indicators.