Azerbaijan increases financial sector’s share in GDP, central bank says

Azerbaijan has made notable progress in maintaining inflation within the Central Bank of Azerbaijan’s (CBA) target range, expanding the financial sector’s depth, and increasing its share in the country’s GDP and enhancing the overall access to finances, according to CBA Chairman Taleh Kazimov.

Report quotes Kazimov as saying during the first meeting of the sub-working group on macroeconomic stability that macroeconomic stability is crucial for sustained economic growth, shielding the economy from external and internal shocks, and ensuring social welfare and inclusive development. He added that measures implemented under the 2022–2026 Socio-Economic Development Strategy have already produced positive outcomes.

Kazimov highlighted the need to improve macroeconomic and financial stability policies for 2027–2030.