Baku: High energy prices are anticipated to positively influence the export revenues of energy-exporting countries, including Azerbaijan, APA-Economics reports, citing the World Bank's forecast on the global economy.

According to Azeri-Press News Agency, the World Bank highlights that elevated commodity prices are expected to bolster the export revenues of nations like Azerbaijan, Kazakhstan, and Turkmenistan. However, the World Bank also forecasts that while export revenues may rise, economic growth in these commodity-exporting countries is projected to remain limited over the medium term.

The World Bank's report further outlines that energy exporters will have the opportunity to enhance their fiscal consolidation efforts due to increased oil and gas revenues, which will consequently improve their current account balances.

Meanwhile, the World Bank's assessment indicates that most countries in Europe and Central Asia are energy importers and are likely to experience adverse effects from high energy prices. Since January, the most significant downward forecast revisions have been noted for Romania, Trkiye, Moldova, and Ukraine.

The report also underscores that Armenia, Georgia, Moldova, and Trkiye are particularly vulnerable to high energy costs. The rising energy prices are expected to drive up inflation in these countries, placing additional pressure on real incomes and external balance indicators.