ING updates economic growth forecast in Azerbaijan for 2024-2025

The Dutch company ING Group has projected Azerbaijan's economic growth for 2024 at 2.8%, 2.5% for 2025, and 2.8% for 2026, Azernews reports citing the forecasts released by the company.

Compared to the previous forecast, expectations for 2024 have increased by 0.3 percentage points, while the forecast for the following year has decreased by 0.2 percentage points.

The report predicts GDP growth of 3.5% in the second quarter of 2024, 2% in the third quarter, and 1.5% in the fourth quarter. Additionally, economic growth is forecasted at 1.7% in the first quarter of 2025, 2.5% in the second quarter, 2.7% in the third quarter, and 3% in the fourth quarter.