S&P updates Azerbaijan’s economic indicators

This year, nominal gross domestic product (GDP) production in Azerbaijan is expected to reach 129.34 billion manats or $76.08 billion, Report informs, citing S&P Global Ratings.

GDP growth in real terms is predicted at 1.5%.

According to the forecasts of the rating agency, by the end of 2024, the GDP per capita in Azerbaijan will increase to $7,364.82. The real growth of this indicator is predicted at the level of 0.5%.

S&P's inflation forecasts are at 3.5%.

Moreover, investments in Azerbaijan are expected to increase by 15.84% and reach 3% of GDP this year.

The government of Azerbaijan predicts GDP growth for 2024 at 2.4% (against 1.1% in 2023), and average annual inflation at 5.3% (8.8%).