IMF revises forecast on Azerbaijan’s economic growth

By  Trend

The International Monetary Fund (IMF) has revised economic growth projections for 2018 for Azerbaijan to 2 percent from 1.3 percent, according to the updated World Economic Outlook (WEO) of the IMF.

Higher public investment is among the reasons for the forecast’s revision, according to the report.

The IMF expects a 3.9 percent growth of Azerbaijan's GDP in 2019.

In general, economy of the CIS member countries will grow 2.2 percent in 2018 and 2.1 percent in 2019, according to analysts of the fund. Compared to the January WEO report, the forecasts for the economy growth of the CIS member countries remained unchanged.

“Aggregate growth in emerging market and developing economies is projected to firm further, with continued strong growth in emerging Asia and Europe and a modest upswing in commodity exporters after three years of weak performance,” the report said.

Global growth is expected to tick up to a 3.9 percent rate in both 2018 and 2019, according to the report.