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IMF: Real GDP in Azerbaijan to reach pre-pandemic level in 2023

06 September 2021 14:40 (UTC +04:00)

According to the forecasts of the International Monetary Fund, (IMF), real GDP production in Azerbaijan will return to the pre-pandemic level in 2023, APA-Economics reports.

There was a decline in the economy of the country in 2020, in the background of COVID-19 pandemic and real GDP production decreased by 4,3%, made up AZN 28,62 bln. According to the forecasts of IMF real GDP production will increase by 2,3% in 2021, and 1,7% in 2022 to reach AZN 29,21 bln. and AZN 29,71 bln. respectively.

According to the long term forecasts of the Fund, the volume of real GDP in the country in 2023 will be finally able to exceed the indicator of 2019 (AZN 29,9 bln.) and will reach AZN 30,21 bln. (1,7% increase in comparison to the forecast of 2022). In addition, according to IMF, the economy of the country will grow by an average of 1,8% in 2021-2026.