According to the current year's results, the value of the gross domestic product (GDP) in Azerbaijan will be 5% higher than last year, local media writes.
The information was published through the World Bank (WB) 's updated report for Europe and Central Asia. According to the document, the World Bank forecasts that the economy of Azerbaijan will grow by 3.1% in 2022 and by 2.7% in 2023.
In a document released in June, the Bank stated that Azerbaijan would see 2.2% economic growth in 2021.
In the first eight months of 2021, Azerbaijan's GDP grew by 3.6%. In the non-governmental oil and gas sector - by 5.7%, in the non-oil industry, economic growth was 18.7%, and in agriculture - 5%.
The government of Azerbaijan forecasts economic growth of 4.6% this year.