S&P predicts Azerbaijan's GDP growth to hit over $77 billion by 2026

Azerbaijan's nominal GDP is expected to grow to $74.98 billion (127.466 billion manat) in 2025, with projections indicating further growth to $77.86 billion (132.362 billion manat) in 2026.

This forecast comes from the international rating agency S&P Global, which also anticipates a 2 per cent real GDP growth for the country in both 2025 and 2026, Caliber.Az reports via local media.

According to S&P's estimates, Azerbaijan's GDP per capita will rise to $7,277 in 2025, and continue increasing to $7,511 in 2026.

Azerbaijan's Ministry of Economy forecasts a 3.5 per cent economic growth rate for this year, while the Central Bank predicts a 3.3 per cent increase in 2025.

Meanwhile, other international agencies have provided their own growth projections for Azerbaijan.

Moody's predicts a 4 per cent real GDP growth in 2025, while Fitch Ratings expects a 3 per cent increase in 2025, followed by a 2.4 per cent growth in 2026. The Dutch bank ING, on the other hand, anticipates 2.6 per cent growth for 2024 and 2.8 per cent for 2025.

In 2024, Azerbaijan's economy expanded by 4.1 per cent, with its nominal GDP amounting to 126.337 billion manat ($74.315 billion).

By Vafa Guliyeva