Azerbaijan's hydrocarbon exports will increase to some extent, says World Bank


The World Bank has kept Azerbaijan's economic growth forecast stable. this was reported in the June issue of the World Bank's "Global Economic Prospects" report, Paralel.Az-Economics reports.

According to the information, the World Bank predicted economic growth in Azerbaijan at 2.3% in 2024, and 2.4% in 2025 and 2026. This is the same as the Bank's April forecast.

In general, the World Bank has predicted that the annual economic growth in the South Caucasus will stabilize at the level of 3.5 percent during 2024-2026.

"In South Caucasus, growth is projected to stabilize at about 3.5 percent annually over 2024–26. Azerbaijan is expected to pick up supported by some recovery in hydrocarbon exports, which were notably low in 2023. This rebound is expected to be counterbalanced by the easing of growth in Armenia and Georgia from exceptionally high levels in recent years."