In May of this year, the economy of Azerbaijan grew by 7.2%, APA-Economics reports citing the July report of the Asian Development Bank (ADB) "Asian Development Outlook-2022".
According to the information, the growth is due to high growth in the non-oil sector.
ADB increased its forecast for the growth of gross domestic product (GDP) in the Caucasus and Central Asia region by 0.2 percentage points, from 3.6% to 3.8%.
GDP growth in the region has increased from 4% to 4.1% for next year.
However, the report states that growth in these economies could slow down in the coming months due to an uncertain geopolitical environment.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
