World Bank changes forecast over Azerbaijani economy

World Bank changes forecast over Azerbaijani economy
  • Clock-gray 11:34
  • calendar-gray 07 October 2020

World Bank has forecasted that Azerbaijan's economy to decrease by 4.2% this year due COVID-19 pandemic, "APA-Economics" reports citing the latest edition of the World Bank’s Economic Update for the region.

It was noted that the mentioned forecast is 1.6 percentage points higher than the June forecast. According to the Update, in 2021, the country's GDP will grow by 1.9%, which is 0.3 percentage points lower than the previous forecast.

According to the report of WB, in a worst scenario, the growth of the Azerbaijani economy next year may be weaker - at 1.1%.

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