ING: Azerbaijani economy will grow by 1.9% in 2023

ING Group of the Netherlands expects the gross domestic product (GDP) in Azerbaijan to increase by 1.9% in 2023, Report informs.

As reported, the country's economic growth is expected to be 3.2% in the third quarter of 2023, and 3.4% in the fourth quarter.

According to ING, the GDP growth is expected at 4% in the first quarter of 2024, and 2.5% for the whole year. The economic growth forecast for 2025 is 2.7%.

According to the updated forecasts of the government of Azerbaijan, the GDP growth is expected at 1.8% in 2023.