Azerbaijan’s economy to grow 2% in 2018, the European Bank for Reconstruction and Development (EBRD) said.
According to an updated Regional Economic Prospects report, the start of gas production within the second stage of development of the Shah Deniz gas condensate field will support the growth of Azerbaijan’s economy next year.
As for this year, the bank’s analysts expect Azerbaijan’s economy to shrink 0.5%. The EBRD has kept its expectations regarding the development of the country’s economy as in the bank’s May report.
"Growth in eastern Europe and the Caucasus as a whole is expected to pick up from near zero to close to 1.5 percent in 2017 as headwinds from low commodity prices and the earlier recession in Russia subside. A gradual recovery in the region is set to continue in 2018," the report says.
