Moody's foresees further strengthening of Azerbaijan's economy in 2019

Wed 08 August 2018 10:04 GMT | 14:04 Local Time

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The international rating agency Moody's expects the acceleration of economic growth of Azerbaijan in 2019, as appears from the report of the agency.

Thus, analysts of Moody's predict the growth of the economy of Azerbaijan at the rate of 1.5 percent in 2018, and at the rate of 3 percent in 2019, Trend reports.

"The favorable external environment - the average oil prices amounting to $54 in 2017 compared to $44 in 2016, the stability of the national currency and the decline in inflation led to a gradual recovery of the economy of Azerbaijan. We expect Azerbaijan's GDP growth rate in 2018 and 2019 to be 1.5 and 3 percent, respectively. This is conditioned by the further increase in oil prices and the growth of exports of Azerbaijani products," the agency's analysts noted.

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