Central Bank of Azerbaijan raises 2026 economic growth forecast to 1.3%

The Central Bank of Azerbaijan (CBA) forecasts the country's economy to grow by 1.3% in 2026 and 2.3% in 2027, CBA Governor Taleh Kazimov said at a press conference, according to Report.

"Economic growth reached 1.5% in the first nine months of the year, while non-oil GDP grew by 2.6%. The main sectors supporting growth in the non-oil economy are tourism, trade, communications and other industries. Our outlook is optimistic. In particular, we have revised our forecast for the current year upwards," he said.

According to Kazimov, non-oil GDP is projected to grow by 2.8% in 2026 and 4.3% in 2027.

In July, the CBA had forecast Azerbaijan's GDP growth at 0.5% for 2026 and 2.6% for 2027.