Azerbaijan’s CBA announces economic growth forecasts for oil, gas sector

The Central Bank of Azerbaijan (CBA) forecasts that the gross domestic product (GDP) in the oil and gas sector will increase by 1.2% in 2025, but will decrease by 1.2% in 2026, Report informs, citing the CBA.

According to the bank’s Monetary Policy Review, the overall economic growth in Azerbaijan will be mainly provided by the non-oil-gas sector.

"Whether the economic growth forecast for 2025-2026 becomes real will depend on the dynamics of real consumption expenditures of households. On the other hand, uncertainties in global commodity and financial markets can also affect the realization of economic growth forecasts through various channels," reads the document.

Forecasts for the oil and gas sector are based on the government's official projections.