On February 10, 2025, the World Bank launched its 2024 World Development Report (WDR) in Baku, shedding light on the challenges and opportunities countries face in overcoming the "middle-income trap." During the event, Rolande Pryce, the World Bank’s Country Director for the South Caucasus, offered key insights into Azerbaijan's economic outlook. She discussed the country's current position and the strategic approaches it can adopt to transition toward becoming a high-income economy.

In her interview with Azernews, Pryce provided further analysis on Azerbaijan’s economic trajectory, outlining the path the country could take to achieve high-income status.

Pryce began by highlighting the significance of the Greater Heights report (Growing to High Income in Europe and Central Asia), which focuses on the economic trajectories of Central Asia, Eastern Europe, and the South Caucasus.

"We’re very excited about this report," she noted. "It’s a companion to the 2024 World Development Report that focuses on the middle-income trap, and it allows us to zoom in on the economies of Europe and Central Asia."

She emphasized that out of the 34 countries that have transitioned to high-income status 10 are from Europe and Central Asia.

"This is a great opportunity for Azerbaijan, as several of its regional........

© AzerNews