Fitch Solutions (FS) under Fitch Group has not changed its forecast of economic growth in Azerbaijan for 2024 and determined it 2.6%, APA-Economics reports citing the compay.
In 2025, Fitch Solutions has reduced the economic growth forecast in Azerbaijan from 3.3% to 2.8%, and forecasted economic growth of 3.2% for 2026 and 3.1% for 2027.
Fitch Solutions forecasted that nominal gross domestic product (GDP) will reach $98.7 billion in 2024, $107.7 billion in 2025, $117.6 billion in 2026, and $128 billion in 2027.
FS added that the main risk related to economic growth is the change in the price of oil. This factor will also affect the company’s forecasts.
Source: Azeri-Press news agency