S&P: SOFAZ net assets to make up 37% of GDP in 2021

Baku. 28 January. REPORT.AZ/ SOFAZ's liquid assets at about 60% of GDP at year-end 2019 and the sovereign to remain in an overall net-asset position averaging 37% of GDP over our four-year forecast horizon, S&P Global Ratings reported.

‘We now project that Azerbaijan will post fiscal surpluses averaging 2% of GDP in these years, down from 3%. We also expect the ongoing adoption of fiscal rules that place limits on the pace of expenditure growth will help maintain fiscal control, although their credibility remains to be tested. Real GDP growth will be 2.3% in 2019 , 3% in 2020 and 3.1% in 2021’, the agency said.