Azerbaijani authorities forecast GDP growth at 2.7% in 2027

BAKU. Sept 17 (Interfax) - The Azerbaijani government expects the country's economy to grow 2.7% in 2027, with average annual GDP growth up to 2030 forecast at 3.3%, according to materials published on the website of the Azerbaijani Finance Ministry.

According to the forecasts, Azerbaijan's GDP will grow 2.6% in 2028, 4.2% in 2029 and 3.6% in 2030.

Growth in the non-oil and gas sector in 2027-2028 is expected at 4.4% per year, at 4.3% in 2029 and at 4.5% in 2030.

However, a decline of 1.8% is forecast for next year in the oil and gas sector, and a drop of 3.5% in 2028 and 4% in 2029. In 2030, the sector is expected to show zero growth.

The Azerbaijani government confirmed its forecast for GDP growth in 2026 at 1.7%. The non-oil and gas sector is expected to grow 3.1%, while the oil and gas sector is forecast to decline 1.8%.

According to government estimates, nominal GDP will amount to 138 billion manat in 2026, 141 billion manat in 2027 and 169.1 billion manat in 2030.

Average annual inflation in the country is forecast at 5.7% in 2026 and 5.3% in 2027. Its further slowdown is expected in 2028 - to 4.8%, and subsequently to 4.6% in 2029 and to 4.3% in 2030.

It is noted that in preparing macroeconomic forecasts, the Azerbaijani government proceeded from an average oil price in 2027-2030 of $65 per barrel (corresponding to the forecast for 2026).

Azerbaijan's GDP grew 1.4% in 2025.

The official exchange rate on September 17 is 1.7 manat/$1.