Azerbaijan expects GDP rebound to continue at accelerated speed in years to come

By Trend

Azerbaijan expects its GDP rebound to continue at an accelerated speed in the years to come, Trend quotes advisor to the country’s economy minister Emil Majidov as saying.

“Azerbaijan entered 2021 in new and very exciting conditions. The change came with the liberation of Azerbaijani lands from Armenian occupation. This gives Azerbaijan tremendous opportunities and affects the whole region. Azerbaijan is actively engaged in rehabilitation and reconstruction in the liberated lands. We have started massive and ambitious program for reconstruction and rehabilitation of these territories. Like all of the countries of the region, Azerbaijan has also been under the pressure of COVID-19 pandemic. Our anti-COVID program was built around social protection of vulnerable groups of the population. We believe that we went through the pandemic period with substantially modest losses. Our GDP shrinkage was around 4 percent and we hope for the rebound this year with the GDP forecast being reviewed just a few days ago by the World Bank and the EBRD to around 3 percent growth this year. We are quite confident that the rebound will continue in the years to come and with accelerated speed,” he said addressing the 5th Annual Trans-Caspian Forum.