Azerbaijan forecasts GDP per capita at $9,140 by 2029

Azerbaijan's GDP per capita is projected to reach $9,140 in 2029, Economy Minister Mikayil Jabbarov said during a session of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship discussing the 2026 state budget draft, Report informs.

Jabbarov emphasized continued growth in the non-oil and gas sector over the medium term: "Nominal GDP in 2026 is forecast at 134.1 billion manats ($78.9 billion), with the non-oil and gas sector contributing 101.7 billion manats ($59.8 billion). Considering projected oil prices, GDP per capita is expected to be $7,667 in 2026, rising to $9,140 by 2029."