The World Bank (WB) has upgraded its economic growth forecast for Azerbaijan in 2024, increasing it by 0.9 percentage points from its June estimates to 3.2%, according to the bank’s economic outlook report for the Europe and Central Asia (ECA) region, titled “Better Education for Stronger Growth.”
The bank also raised its expectations for 2025 by 0.3 percentage points to 2.7%, while maintaining the forecast for 2026 at 2.4%, News.Az reports.
In its analysis, the World Bank anticipates that the economy of the South Caucasus will grow by 4.6% in 2024, marking the fastest growth rate among ECA subregions, with an improvement of 1.1 percentage points from previous projections.
For 2025, growth is expected to be 3.7%, which is 0.2 percentage points higher than the June forecast, while the outlook for 2026 remains steady at 3.4%.
