The European Bank for Reconstruction and Development (EBRD) predicts economic growth in Azerbaijan in 2022 at 4.5% and average annual inflation at 12.2%.

"APA-Economics" informs that this was stated in the "Transition Report 2022-23" report of the bank.

EBRD predicts the growth of GDP in Azerbaijan at the level of 2.5% for 2023.

"High prices of energy carriers and demand for Azerbaijani gas will remain high in the short term, which will support the overall economic situation.

Thus, we expect GDP to grow by 4.5% in 2022 and to decrease to 2.5% in 2023.

The main risks for the economy are related to inflation, the cheapening of energy carriers and structural deficiencies in the economy.

However, Azerbaijan may benefit from additional investments in the gas industry in the coming years, as the European Union tries to diversify supply by abandoning Russian gas," the report states.