S&P predicts sustainable growth of Azerbaijan's economy in medium term

Azerbaijan's economic growth will recover and gradually strengthen, averaging 3% in real terms over 2018-2021, as appears from the report of the Standard & Poor's rating agency.

S&P has affirmed its 'BB+/B' long- and short-term foreign and local currency sovereign credit ratings on Azerbaijan. The Outlook on the ratings is stable.

Growth of the economy of Azerbaijan should be also supported by a steady recovery in consumption and a cautious increase in business confidence, the analysts of the agency said.

S&P forecast for Azerbaijan's economy for 2018-2021:

The agency noted that, the large SDII gas field project, which will see Azerbaijani gas delivered first to Turkey and then to Europe, was officially launched in early July, in line with the planned schedule.

"We expect that, over the next four years, gas exports will gradually rise as the project reaches full capacity, which should support broader economic dynamics," the report says.