In 2025, Azerbaijan's current account surplus in the balance of payments is expected to be 5.6% of the country's Gross Domestic Product (GDP), Economy Minister of Azerbaijan Mikayil Jabbarov said at today's plenary session of Azerbaijan’s Milli Majlis (Parliament), Report informs.
However, taking into account the latest forecasts for oil and gas production, the surplus is projected to average around 3% of GDP between 2025 and 2028, the minister noted.
Jabbarov also shared projections for Azerbaijan's nominal GDP, stating that it is expected to reach 129.2 billion manats (almost $76 billion) by 2025. He added that the non-oil and gas sector is set to contribute significantly to this growth, with its nominal GDP forecasted to reach 92.2 billion manats ($54.2 billion).
"Taking into account the projected oil price of $70 in 2025 and $65 in 2026-2028, GDP per capita is expected to reach $7,412 in 2025 and $8,522 by the end of 2028."