Azerbaijan's CBA expects surplus in current account this year

According to the updated forecasts, if current trends in Azerbaijan continue, a surplus is expected to be formed in the current account at the end of 2024, Report informs, citing the Central Bank of Azerbaijan (CBA).

"A surplus of $2.3 billion was formed in the trade balance, which is the main component of the balance of payments, in the first quarter of 2024,” CBA stated.

The International Monetary Fund (IMF) predicts the current account surplus of Azerbaijan's balance of payments at the level of 8.5% of GDP for 2024.

The World Bank predicts Azerbaijan's current account surplus to be 7.5% of GDP in the medium-term perspective.