Ayhan Kose: Economic growth potential in Azerbaijan can reach 4%

Azerbaijan and the World Bank (WB) are actively cooperating in the fight against current economic problems, WB Senior Economist Ayhan Kose said at the forum "Azerbaijan: Growth Prospects in a Changing Global Economy" in Baku, Report informs.

He noted that in Azerbaijan, the potential for economic growth is 2 - 2.5% and can reach 4%, stressing the importance of developing the non-oil sector.

According to him, the World Bank is also concerned about interruptions in the supply of food products to retail chains worldwide.

Kose noted that hard times await the world in 2022 and 2023; strong inflation is already observed, which may increase further.

"In January, before the start of the war in Ukraine, we said that there was an opportunity to return to pre-Covid indicators, but because of the war, the 'window' of this opportunity is closing," the economist said.

According to him, in 2022, the growth of the global economy could reach 3%. In the future, the growth rate of global economies will decline due to many factors.