WB improves economic growth outlook for Azerbaijan this year

At the end of this year, the value of the gross domestic product (GDP) in Azerbaijan will be 5% higher than last year, Report informs, referring to an updated report of the World Bank (WB) for Europe and Central Asia.

In a document released in June, the Bank stated that Azerbaijan would see 2.2% economic growth in 2021.

The WB outlooks that the Azerbaijani economy will grow by 3.1% in 2022 and 2.7% in 2023, respectively, down 0.8% and 0.7% from June's forecast.