ING lowers inflation forecast in Azerbaijan for 2024

ING Group of the Netherlands predicts that the average annual inflation in Azerbaijan will be 5% in 2024 and 5.6% in 2025, Report informs, citing the forecasts announced by the company.

This figure is 1 percentage point lower than the forecast released in August 2023, but remained unchanged for next year.

According to the outlook, the average annual inflation in Azerbaijan is expected to be 6.2% in the first quarter of 2024 and 2.6% in the second quarter.

The Minister of Economy expects the annual inflation in the country to be 5.3% in 2024 and 4.9% in 2025.

The United Nations (UN) expects the average annual inflation in Azerbaijan to be 5.9% this year and drop to 3.9% in 2025.

The International Monetary Fund (IMF) predicts that the average annual inflation in Azerbaijan will fall to 4.7% this year and will be 5% in 2025.

According to World Bank estimates, the average annual inflation in Azerbaijan will be 5.8% in 2024 and 5.2% in 2025.

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