Central Bank of Azerbaijan unveils GDP growth forecasts

Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov has said that the CBA forecasts the economic growth rate in Azerbaijan in 2024 at approximately 3.5 per cent.

Kazimov made these remarks at a press conference, Report informs.

He noted that GDP growth is projected at 3-4 per cent in 2025.

Azerbaijan produced a gross domestic product (GDP) worth 123 billion manat ($72.3 billion) in 2023 or by 1.1 per cent more than a year earlier.

According to the Azerbaijani government’s forecasts, GDP growth is expected to reach 2.4 per cent in 2024 while in 2025 - 2.9 per cent.