BAKU, Azerbaijan, November 10. S&P Global Ratings forecasts Azerbaijan's GDP growth at 4 percent in 2022, Trend reports via the agency.
According to the forecast, the expected figure has increased by 1.3 percentage points, compared to the April outlook.
The report noted that Azerbaijan’s GDP will grow by 1.5 percent in 2023 and 2024, and by 1 percent in 2025.
As S&P pointed out the current dynamics of energy prices may contribute to Azerbaijan’s economic growth.
The agency notes that global forecasts for GDP growth have been downgraded worldwide.
"Our current GDP growth forecasts are thus lower than those we published at the beginning of this year. Regions and countries that are more dependent on Russian gas and suffering from higher inflation will experience the highest economic hit," the report says.