ING (Internationale Nederlanden Groep), the international banking and financial services corporation of the Netherlands, has updated its economic growth forecast for Azerbaijan, APA-Economics reports.

ING increased its GDP growth forecast in Azerbaijan from 2.5% to 2.8% in 2024, and lowered it from 2.7% to 2.5% in 2025.

The corporation kept the gross domestic product (GDP) growth forecast for the third quarter of 2024 at 2.0%, and for the last quarter of the year at 1.5%.

Note that according to its recently published forecast, the World Bank forecasts economic growth in Azerbaijan at the level of 2.3% in 2024, and 2.4% in 2025 and 2026. The Asian Development Bank expects economic growth of 1.2% in 2024 and 1.6% in 2025 in Azerbaijan.

Source: Azeri-Press news agency