Central Bank of Azerbaijan downgrades forecast for GDP growth to 0.5% in 2026, 2.6% in 2027

BAKU. July 31 (Interfax) - The Central Bank of Azerbaijan has downgraded the forecast for the country's GDP to grow to 0.5% in 2026 from 1.1% in the regulator's May outlook, CBA Governor Taleh Kazimov said on Friday at a press conference.

The CBA said that GDP should grow 2.6% in 2027 versus the May forecast of 3.2%.

Kazimov said that the non-oil and gas sector should rise 2.4% this year and 3.9% next year.

Azerbaijan's Ministry of Economy projects GDP to grow 1.7% in 2026 and 3.3% in 2027.

Azerbaijan's GDP rose 1.4% in 2025.