Central Bank of Azerbaijan lowers forecast for GDP growth in 2025-2026

BAKU. July 23 (Interfax) - The Central Bank of Azerbaijan (CBA) forecasts the country's GDP to grow 3% this year, CBA Governor Taleh Kazimov said.

"GDP is forecast to grow 3% in 2025 versus the outlook of 3.3% in April, and non-oil GDP should rise 4.2% against 4.7% previously," Kazimov said on Wednesday at a press conference.

Kazimov also said that GDP should rise 2.2% in 2026 versus 2.4% in the April forecast, including non-oil GDP at 4.3% against 4.6% previously.

As reported, Azerbaijan's Ministry of Economy forecasts the country's GDP to grow 3.7% this year and 3.2% in 2026.

Azerbaijan's GDP grew 4.1% in 2024.