Baku: The surplus in Azerbaijan’s current account balance is expected to increase in 2026 due to rising energy prices, APA-Economics reports. It was noted in the assessment of the International Monetary Fund (IMF). It was stated that the reserves of the State Oil Fund will continue to grow against the backdrop of high oil prices.
According to Azeri-Press News Agency, GDP is projected to grow by 2.1% in 2026. This growth will mainly be driven by the non-oil sector. Thus, growth in the non-oil economy is expected to reach 3.7% and then stabilize at around 3.5%. Overall economic growth will remain at around 2.5% in the medium term.
The IMF notes that economic growth is supported to some extent by the relative easing of fiscal policy and rising energy prices against the backdrop of the war in the Middle East. According to the Fund’s forecast, inflation in the country will amount to 6% by the end of 2026.