IMF: Among region’s oil exporters, Azerbaijan’s economy to be one of least affected economies

IMF: Among region’s oil exporters, Azerbaijan’s economy to be one of least affected economies
  • Clock-gray 18:20
  • calendar-gray 14 April 2020

Based on the International Monetary Fund’s (IMF) new forecast for the Middle East and Central Asia region, this year the GDP of countries of the mentioned region will reduce by 2.8%, "APA-Economics" reports citing IMF’s World Economic Outlook.

The economies of the region’s oil producing countries alone will decline by 3.9% on average. The sharpest reduction of the GDP is expected in Iran and Algeria. In the IMF’s opinion, the decline in these countries will be at the level of 6% and 5.2% accordingly.

Kuwait, Azerbaijan and Turkmenistan will be the countries with the least affected GDPs among the oil-exporting countries of the mentioned region. According to the IMF’s forecasts, in the current year, the economies of Kuwait and Azerbaijan will decrease by 1.1% and 2.2% accordingly, while Turkmenistan’s economy will increase by 1.8%.

Mirsaid İbrahimzade

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