S&P Global Ratings upgrades Azerbaijan’s economic growth forecast

S&P Global Ratings has significantly revised its economic growth outlook for Azerbaijan, raising the country's GDP growth forecast for 2024-2027.

The international rating agency has increased its forecast for Azerbaijan's 2024 GDP growth from 2.5% to 4.5%, marking an improvement of 2 percentage points, News.Az reports, citing the agency.

For the period between 2025 and 2027, S&P forecasts a steady economic growth rate of 2% annually, which also reflects a 0.5 percentage point upward revision for 2026-2027.

Additionally, S&P projected Azerbaijan's nominal GDP to reach $74 billion in 2024, rising to $75 billion in 2025, $78 billion in 2026, and $81 billion by 2027.

News.Az