Fitch forecasts significant decrease in government deficit of Azerbaijan

Fitch forecasts significant decrease in government deficit of Azerbaijan
# 16 May 2021 11:27 (UTC +04:00)

Fitch forecasts the general government deficit narrows from 6.5% of GDP in 2020, to 0.2% in 2021 and 0.7% in 2022 (which compares favourably with the 'BB' medians of 5.2% and 3.6%), APA-Economics reports citing Fitch Ratings Agency.

This is driven by strong revenue growth due to the higher oil price and to a lesser extent, a gradual rise in OPEC plus production quotas and the recovery in non-oil GDP (with budgeted SOFAZ transfers unchanged on 2020).

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THE OPERATION IS BEING PERFORMED