The international rating agency Fitch Ratings improved the forecast for Azerbaijan's GDP growth from 3.6% (April forecast) to 4.3% in 2022.
In 2023-2024, the country's GDP growth is expected to be at the level of 2.3% per annum.
"The non-oil sector drove Azerbaijan's GDP growth by 5.8% in the first 8 months of the year due to the pent-up pandemic demand, increased remittances from Russia, and growth in the transport sector. Fitch forecasts GDP growth at 4.3% in 2022, and 2.3% in 2023-2024,” the agency’s reports reads.
