Fitch changes forecast for Azerbaijan’s current account balance

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# 13:53
3 September 2020

"Fitch Ratings" worsened its outlook on Azerbaijan’s current account deficit from 4% of GDP to 4,1% in 2020, APA-Economics reports citing the Agency.

However, according to the agency the current account balance is forecast to return to surplus of 4.4% and 6.1% in 2021 and 2022, respectively.

It should be noted that in 1Q20 the country’s current account surplus made up 1.0987 billion manat or 6% of GDP, while it was 9,1% of GDP in 2019.

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