17:18 - 6.10.2025

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October 6, Fineko/abc.az. ING Group, the Netherlands' largest banking group, forecasts Azerbaijan's economic growth at 1.5% in 2025 and 2.8% in 2026, ABC.AZ informs, referring to ING.

Compared to previous forecasts, GDP growth rate for the current year has been reduced by 0.8 p.p. and increased by 0.3 p.p. for 2026.

Thus, the country's average annual GDP growth in 2025-2026 is projected at 2.15%.

According to the bank's forecasts, nominal GDP will reach $79.6 billion this year and $81.3 billion next year.

"We downgrade the near-term outlook for Azerbaijan's GDP, budget, external balance and CPI based on 1H25 performance. The country's financial position remains solid, underpinned by substantial sovereign assets and prudent fiscal management. The sovereign rating upgrade from Moody's to investment-grade Baa3 is potentially positive for portfolio inflows. Nevertheless, the risk of the current account turning negative next year remains high, in our view, keeping FX stability in focus as oil prices and export volumes face headwinds," reads the bank's update.