WB reveals medium-term forecast on Azerbaijan’s economy

By  Trend

The World Bank (WB) expects inflation rate in Azerbaijan to remain below 3 percent, according to the bank’s website.

The WB notes that in the medium term, the economy of Azerbaijan will be strengthened thanks to the export of gas and the acceleration of GDP growth.

The growth of Azerbaijan’s non-oil sector, which is expected at an average level of 2.7 percent, will be facilitated by stabilization of oil prices, increased market confidence, gradual recovery of investments and improvement of the banking sector.

At the same time, until 2020, the current account surplus will be 10 percent of GDP, according to WB forecasts.

The inflation rate in Azerbaijan amounted to 2.6 percent in January-September 2018 and 12.9 percent in 2017.

Azerbaijan joined the WB Group in 1992.