Azerbaijan expects oil price at $65 for 2027–2030

Azerbaijan expects the average export price of oil at $65 per barrel in 2027–2030 under the baseline scenario, according to projections presented by the Ministry of Economy last month, Report informs.

According to the forecasts, Azerbaijan's gross domestic product is expected to reach 139 billion manats ($81.76 billion) by the end of 2027 and rise to 166.9 billion manats ($98.17 billion) by 2030. The share of the non-oil and gas sector in GDP is projected to increase from 71.5% in 2025 to 78% in 2027 and 81.8% by 2030.

In the medium term, real GDP growth is forecast at an average of 3.3% annually, while growth in the non-oil and gas sector is expected to average 4.2% per year.