Azerbaijani authorities lower 2025 GDP growth forecast from 3.7% to 3%

BAKU. Aug 19 (Interfax) - The government of Azerbaijan has lowered its estimate for the country's GDP growth in 2025 by 0.7 percentage points (p.p.) to 3%, with the updated macro forecast for 2025 published on the Finance Ministry's website.

In April, the Finance Ministry reported that the Azerbaijani government had increased its forecast for the country's GDP growth for the current year by 0.2 p.p. to 3.7%.

According to the updated estimates, nominal GDP in the current year will be 129.9 billion manat. The April estimate was 130.7 billion manat.

Growth of non-oil and gas GDP is now forecast at 4.6% (previous estimate - growth of 4.9%).

According to the Finance Ministry, the government has also worsened its estimate of the average annual inflation for 2025 to 5.4% (April estimate - 5.1%).

According to the State Statistics Committee, Azerbaijan's GDP grew 0.9% in January-July 2025, and the average annual inflation was 5.8%.

The country's economic growth was 4.1% in 2024, and the average annual inflation was 2.2%.

The official exchange rate on August 19 is 1.7 manat/$1.