IMF improves forecasts for Azerbaijan’s economic growth in 2024

The International Monetary Fund (IMF) forecasts Azerbaijan's GDP growth at 2.8% for 2024.

Such a forecast is indicated in the April World Economic Outlook, Report says.

Last October, the IMF forecasted Azerbaijan’s economic growth for 2024 at the level of 2.5%. However, in a report released following consultations under Article IV of the IMF's Establishment Agreement held by the head of the Fund's mission in Azerbaijan Anna Bordon in November 2023 in Baku, the average annual growth rate of Azerbaijan's economy was forecasted at 2.3% in 2024-2028 and above 2.4% per year in 2029-2032.

In a new report, the Monetary Fund forecasts Azerbaijan's GDP growth at 2.3% for 2025 and 2.4% for 2029.

The Azerbaijani government forecasts GDP growth at 2.4% for 2024. Azerbaijan's GDP growth in 2023 amounted to 1.1%.