The International Monetary Fund forecasts that Azerbaijan's strategic foreign exchange reserves will reach $85.15 billion in 2026, marking a modest annual increase of 0.1 percent, Report informs, citing the IMF's latest forecast update.
The reserves of the Central Bank of Azerbaijan (CBA) are projected at $10.69 billion in 2026, reflecting a 7.18 percent annual decline, while the assets of the State Oil Fund of Azerbaijan (SOFAZ) are expected to total $74.46 billion, up 1.25 percent year-on-year.
Anna Bordon, head of the IMF mission to Azerbaijan, said following her visit to Baku on February 4–17, 2026, that the combined reserves of the CBA and the SOFAZ would continue to grow, albeit at a slower pace, noting that strategic reserves increased from $70 billion at the end of 2024 to $85 billion by the end of 2025.
She added that risks to the outlook remain broadly balanced, although external uncertainty continues to be elevated amid global economic volatility and shifting financial conditions.
The IMF expects Azerbaijan's strategic reserves to reach $84.75 billion in 2027, down 0.47 percent, including $9.71 billion for the CBA and $75.04 billion for the SOFAZ, while in 2028 total reserves are projected at $84.42 billion, with $8.9 billion held by the CBA and $75.52 billion by the SOFAZ.
By 2029, strategic reserves are forecast at $84.97 billion, rising 0.65 percent, with CBA reserves at $8.75 billion and SOFAZ assets at $76.21 billion, followed by $85.78 billion in total reserves in 2030 and $86.46 billion in 2031, as SOFAZ and assets continue to expand while CBA reserves gradually decline over the forecast period.