WNAM MONITORING: Azerbaijan’s GDP growth will be 3% in 2025 and 2.4% in 2026, according to the Fitch Ratings international rating agency’s report on confirming Azerbaijan’s credit rating.
“Fitch estimates that growth accelerated to 4.1% in 2024 due to a slower decline in oil output and positive spill-overs from the reconstruction of Karabakh. We expect growth to slow to 3% in 2025 and 2.4% in 2026, still supported by public investment. The drag of the oil sector will ease relative to previous years, due to new oil production that could slow the pace of decline and higher natural gas production. Progress towards economic diversification is constrained by the large presence of the state, limited access to affordable financing, governance challenges and low non-energy foreign investment,” reads the report.
