Growth in the South Caucasus subregion is projected to rise to 2,5 percent in 2021, as the shocks related to the pandemic and conflict dissipate, and as tourism recovers alongside improving consumer and business confidence.
Activity is expected to expand in Azerbaijan over the forecast horizon as oil prices stabilize and the economy benefits from investment and reconstruction spending, Report informs referring to document.
The peace statement between Armenia and Azerbaijan is expected to help alleviate geopolitical tensions in the region.