World Bank upgrades its economic growth projections for Azerbaijan

Mon 23 April 2018 10:17 GMT | 10:17 Local Time

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The World Bank has upgraded its economic growth projections for Azerbaijan.

According to the bank, the economic growth will make up 1.8% this year.

The bank’s experts say that development of GDP growth, non-oil sector will accelerate in the mid-term period thanks to Shahdeniz 2. Moreover, stable oil production and high oil price will affect the economic growth positively.

‘Increase of state investments will create condition for growth in the non-oil sector. Central Bank of Azerbaijan should continue to tighten monetary policy to curb the inflation’, the bank said.

The WB’s economic growth projection for Azerbaijan was 0.9% in January.

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