ADB raises economic growth forecast for Azerbaijan

The Asian Development Bank (ADB) predicts that the gross domestic product (GDP) in Azerbaijan this year will be 4.2% higher than last year, Report informs, citing the September issue of the bank's Asian Development Outlook.

According to the document, this indicator is 0.5 percentage points higher than the ADB's April forecast.

The bank kept its forecast of economic growth in Azerbaijan unchanged at 2.8% next year.

ADB expects the economy of the Caucasus and Central Asia region to grow by 3.9% this year (up by 0.3% points) and by 4.2% (up by 0.2 percentage points) next year.