15:00 - 29.05.2024

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May 29, Fineko/abc.az. Fitch Solutions, owned by Swatch Group, has set the forecast for economic growth in Azerbaijan for 2024 at 2.6% unchanged.

ABC.AZ reports that FS lowered the forecast of economic growth in Azerbaijan from 3.3% to 2.8% in 2025, set economic growth at 3.2% in 2026 and 3.1% in 2027.

Fitch predicts that nominal GDP will reach $98.7 bn in 2024, $107.7 bn in 2025, $117.6 bn in 2026 and $128 bn in 2027.

"Profits from a stronger oil sector will contribute to household consumption growth from 3.0% in 2023 to 4.0% per year. Slowing inflation and low interest rates will also strengthen consumer spending," Fitch noted.