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Economics

Azerbaijan Sees Economy Bouncing Back After Covid-19 Slump, War

  • GDP to grow 3.4% in 2021, economy minister says in interview
  • No major privatizations planned this year, Jabbarov says
Mikayil Jabbarov
Mikayil JabbarovPhotographer: Aziz Karimov/Pacific Press/LightRocket/Getty Images

Azerbaijan sees economic growth rebounding this year as it emerges from a Covid-19-induced slump and the war with neighboring Armenia that restored its control over formerly occupied territories, Economy Minister Mikayil Jabbarov said.

Gross domestic product is forecast to increase by 3.4% after contracting 4.3% in 2020, Jabbarov said in an interview Tuesday. “Our projections for 2021 are more optimistic than those of” the International Monetary Fund and the World Bank, he said.