European Bank for Reconstruction and Development (EBRD) predicts economic growth in Azerbaijan at 4,5% and average annual inflation at 12,2% in its Transition Report 2022-23, APA-Economics reports.
EBRD predicts GDP growth in Azerbaijan at the level of 2,5%.
High prices of energy carriers and demand for Azerbaijani gas are expected to remain high in the short term perspective, which will support overall economic performance.: "We expect GDP to grow by 4,5% in 2022 but decrease by 2,5% in 2023. The main risks for the economy are related to inflation, the cheapening of energy carriers, and structural deficiencies in the economy. But Azerbaijan could benefit from additional investments in the gas industry in the coming years as the EU tries to diversify its supply by phasing out Russian gas”, reads the report.
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