Real GDP growth in 2024-28 will be sustained by rising gas output in Azerbaijan, says the forecast of the Economist Intelligence Unit (EIU), a research and analysis unit of The Economist Group, APA-Economics reports.
“In addition, oil prices will remain above US$70/barrel into 2028. Azerbaijan’s growth in the medium term will also benefit from rising output in non-oil and gas sectors. The 2024-28 growth forecast is stronger than the ten-year historical average,” EIU notes.
The Economist predicted an economic growth of 2.6% in Azerbaijan in 2024, 2.9% in 2025 and 2026, 3.1% in 2027 and 3.2% in 2028.