EIU raises Azerbaijan’s economic growth forecast for 2025–2029

The Economist Intelligence Unit (EIU) has revised upward its growth outlook for Azerbaijan, projecting steady expansion of the economy through 2029.

In its latest forecast, the EIU raised the country’s real GDP growth estimate for 2025 from 2.9% to 3.4%, and for 2026 from 2.9% to 3.1%. Growth is expected to hold at 3.1% in 2027, rise to 3.2% in 2028, and reach 3.5% in 2029, Caliber.Az reports via local media. 

Nominal GDP is projected to climb from 145.4 billion manats ($85.6 billion) in 2025 to 212.6 billion manats ($125.2 billion) by 2029. Intermediate projections stand at 154.6 billion manats ($90.9 billion) in 2026, 174.6 billion ($102.7 billion) in 2027, and 192.0 billion ($112.9 billion) in 2028.

The State Statistical Committee reported that Azerbaijan’s economy grew by 1% in the first eight months of 2025. Meanwhile, the draft state budget for 2026 outlines medium-term growth expectations of 3.5% in 2025, 2.9% in 2026, 3.3% in 2027, 3.1% in 2028, and 4.8% in 2029.

By Sabina Mammadli