BAKU, Azerbaijan, May 12. GDP growth of oil and gas exporters of Caucasus and Central Asia (CCA) region, which includes Azerbaijan, Kazakhstan and Turkmenistan if forecast at 3.8 percent, Trend reports, citing the latest Regional Economic Outlook from the International Monetary Fund (IMF).
According to the report, the projected GDP growth in these three economies in 2023 is 0.5 percentage points higher than 2022 anticipated growth (3.3 percent).
At the same time, the non-oil GDP growth in this region is projected to stand at 3.4 percent in 2023.
Furthermore, as the IMF expects, GDP growth in Azerbaijan, Kazakhstan and Turkmenistan in 2024 is forecast to increase further to stand at 4.1 percent.
However, the non-oil GDP growth in these economies is expected to decrease slightly to 3.2 percent.
Meanwhile, according to the IMF's outlook, the GDP growth in the whole CCA region is forecast to stand at 4.2 percent in 2023, and 4.5 percent in 2024 (4.8 percent growth in 2022).