We forecast that the government's budgetary position will return to surplus this year for the first time since 2014, the international rating agency Standard and Poor's (S&P) noted in the information on Azerbaijan’s sovereign credit rating, APA-Economics reported.
According to the information, foreign exchange reserves are increasing as balance of payments pressures abate.
“We forecast Azerbaijan's GDP growth to average 3.3% over the next four years following an earlier contraction brought about by the 2014 fall in
oil prices. As a consequence, we are revising our outlook on the long-term ratings to stable from negative and affirming the 'BB+/B' foreign and local currency ratings,” said the information.