ING updates economic growth forecast in Azerbaijan for 2024-2025

The ING Group of the Netherlands has set the economic growth forecast for Azerbaijan at 2.8% for 2024, 2.5% for 2025, and 2.8% for 2026, Report informs, citing the company.

Compared to the previous forecast, forecasts for 2024 increased by 0.3 percentage points, while the forecast for 2025 decreased by 0.2 percentage points.

According to the ING, GDP growth is predicted to be 3.5% in the second quarter of 2024, 2% in the third quarter, and 1.5% in the fourth quarter. Also, the forecast of economic growth in the first quarter of 2025 is 1.7%, in the second quarter - 2.5%, in the third quarter - 2.7%, and in the fourth quarter - 3%.