Country Economic Forecasts - Azerbaijan
Deficit spending and lower interest rates kept the 2020 GDP fall shallower than initially feared at -5.9%. But with growth this year now seen at just 1.7%, the output lost will not be fully recouped until 2022 as new Covid-19 waves delay the release from lockdown until vaccines start to arrive in larger numbers. The rebound will strengthen sharply in 2022, as investment growth picks up (helped by reconstruction in the newly recaptured region) and the external balance continues to improve, helped by last year’s interest rate reduction.
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