ING raises economic growth forecast for Azerbaijan

ING Group NV, global financial institution of Dutch origin, has revised its economic growth forecast for Azerbaijan, projecting a growth rate of 3.8 per cent for 2024, followed by 2.5 per cent in 2025 and 2.8 per cent in 2026.

This update is based on a forecast published by the company, Caliber.Az reports per local media.

The outlook for the current year has been increased by 1 per cent compared to previous estimates, while forecasts for the subsequent years remain unchanged.

In contrast, the Azerbaijani government's economic projections anticipate a GDP growth of 2.4 per cent for 2024 and 2.9 per cent for 2025.