S&P forecasts growth of 1.5% in Azerbaijan's GDP in 2024

MOSCOW. April 19 (Interfax) - S&P Global Ratings forecasts Azerbaijan's GDP to grow 1.5% in 2024, the international ratings agency said on its website.

S&P said that the country's nominal GDP should be $76 billion in 2024.

The ratings agency also forecasts Azerbaijan's average annual inflation to be 3.5% this year.

Azerbaijan's Economic Ministry expects GDP growth of 2.4% and inflation of 5.3% in 2024.

Azerbaijan's GDP grew 1.1% and inflation was 8.8% in 2023.