The Asian Development Bank (ADB) expects that Azerbaijan’s GDP growth will be 1% in 2018, according to the “Asian Development Outlook 2017 Update: Sustaining Development Through Public-Private Partnership”.
Azerbaijan’s GDP growth rate decreased by 3.8% in 2016. The ADB expects that the recession will continue in 2017, but its pace will slow down. Thus, according to the bank’s forecasts, the Azerbaijani GDP growth rate will decrease by 1.3% in 2017.
The Azerbaijani government, in turn, expects that the country’s GDP will grow by 1% in 2017, and by 1.5% in 2018.
According to the ADB, growth forecast for Central Asia, which also covers Azerbaijan, is 3.3% for 2017, and 3.9% – for 2018.
ADB was founded in 1966. Sixty-seven states are its members. Azerbaijan became an ADB member on December 22, 1999. (Trend/Business World Magazine)