Asia Development Bank (ADB) has updated the economic growth forecast for 2023 for the Caucasus and Central Asia (CCA) region where Azerbaijan is located, APA-Economics reports citing ADB.
The bank determined the real gross domestic product growth for 2023 at 4.2%. Last year this figure was 4.8%.
"A challenging global outlook is expected to slow expansion in every subregion but the Caucasus and Central Asia," was mentioned on the comment of ADB.