S&P unveils economic growth forecast for Azerbaijan

S&P Global Ratings international credit rating agency announced its expectations regarding economic growth in Azerbaijan.

The agency's report stated that Azerbaijan's economic growth prospects for 2024-2025 are weaker than most regional countries.

S&P analysts noted that the pressure on economic growth is mainly due to the long-term gradual decline in oil production.

"In 2024-2025, we forecast real GDP growth at around 1.5% annually," the rating agency said.

Recall that previously, in June 2024, S&P announced that it increased its forecast for the growth of real GDP of Azerbaijan from 1.5% to 2.5%.

News.Az