EBRD updates its forecasts for economic growth in Azerbaijan

The European Bank for Reconstruction and Development (EBRD) predicts a 1.5% growth (1 percentage point less than the forecast in May) in Azerbaijan's real gross domestic product (GDP) in 2023, and 2.5% in 2024 (-0.2 percentage points), Report informs.

The EBRD said in its Regional Economic Prospects that the economy of Eastern Europe and the Caucasus region, which includes Azerbaijan, will grow by 1.9% this year (forecast unchanged) and 3.1% (-0.2 percentage points) next year.