Government upgrades 2025 GDP forecast in Azerbaijan

The Azerbaijani government has revised its economic outlook upward, forecasting a 3.7% GDP growth for 2025—an increase from the previously projected 3.5%.

According to Report, the updated figures are detailed in the Ministry of Finance’s recently published Medium-Term Budget Framework for 2025–2029.

The adjustment reflects growing confidence in the country’s economic performance, particularly within the oil and gas sector, where the growth projection has been more than doubled—from 0.5% to 1.2%. Meanwhile, the non-oil sector continues to demonstrate resilience, with its growth forecast holding steady at a solid 4.9%.

Looking further ahead, Azerbaijan’s economy is expected to grow by 3.2% in 2026, accelerate to 3.6% in both 2027 and 2028, and peak at 4.9% in 2029—underscoring the government’s optimism for sustained long-term development.