Azernews.Az

Friday July 4 2025

UN forecasts Azerbaijan's GDP growth rate at 2 pct

5 February 2021 10:00 (UTC+04:00)
UN forecasts Azerbaijan's GDP growth rate at 2 pct

By Ayya Lmahamad

The United Nations Organization has forecasted the GDP growth rate in Azerbaijan to be at the level of 2 percent in 2021, in its recent “World Economic Situation and Prospects” report.

According to the report, the main reasons for Azerbaijan’s economic decline in 2020 up to nearly 3.9 percent were due to the oil production reduction within the framework of the OPEC+ agreement and the COVID-19 pandemic.

In the meantime, according to the report, Azerbaijan’s annual inflation will accelerate to 3.2 percent in 2021, while 2020 ended with an indicator of 3.1 percent.

Additionally, the report says that the economy will grow by 2 percent in 2022, while the level of inflation will be 3.5 percent.

---

Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

Here we are to serve you with news right now. It does not cost much, but worth your attention.

Choose to support open, independent, quality journalism and subscribe on a monthly basis.

By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.

Subscribe

You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper

Thank you!

Loading...
Latest See more