Azerbaijan’s Central Bank forecasts 3.3% GDP growth for 2025

The Central Bank of Azerbaijan (CBA) has projected a 3.3% GDP growth for the country in 2025, with the non-oil and gas sector expected to expand by 5.2%.

Speaking at a press conference on Wednesday, CBA Chairman Taleh Kazimov shared that the average price of oil is predicted to be $77.3 per barrel, while the price of natural gas is expected to be $349 per 1,000 cubic meters, News.Az reports, citing local media.

Kazimov also stated that the country’s current account surplus in the balance of payments is expected to range between $5.3 billion and $5.5 billion in 2025.

The Ministry of Economy has estimated a 3.5% economic growth for 2024, with the non-oil and gas sector expected to grow by 4.9%. In 2023, Azerbaijan’s economy grew by 4.1%, driven by a 6.2% expansion in the non-oil and gas sector.

News.Az