The World Bank (WB) predicts that by the end of 2022 the economy of Azerbaijan will return to the dapendream level. This is stated in the new report of the WB in the region.
According to the report, the early launch of the COVID-19 vaccination initiative in Azerbaijan and large-scale investments in restoration work in the country after the conflict with Armenia show that the restoration of the country’s economy will be faster than expected.
“Acceleration of domestic demand in 2021 will support economic growth, but it will also be due to improving public health and an increase in government spending. It is expected that high oil prices will reduce financial deficit and will help current operations return to the current account surplus. Expected With without serious structural reforms after 2021, the rate of economic recovery will be moderate as a result of long-term restoration of oil and tightening fiscal policies, “the report says.
According to the new World Bank forecast, the economy of Azerbaijan will grow by 2.8% in 2021 and by 3.9% in 2022.