Baku: The Netherlands’ largest financial group, ‘ING Group,’ has announced its economic growth forecast for Azerbaijan, APA-Economics reports. ING has revised its GDP growth forecast for the year 2025, raising it from 2% to 2.5%. The projections for 2026 and 2027 are maintained at 2.5% and 2%, respectively.
According to Azeri-Press News Agency, the bank has also updated its expectations for the fourth quarter of the current year, increasing the growth forecast from 3% to 4%. However, the quarterly growth forecast for 2026 remains unchanged. For the upcoming year, the projections are 3.5% for the first quarter, 3% for the second quarter, 2.5% for the third quarter, and 1% for the fourth quarter.
The Ministry of Economy of Azerbaijan has its own set of predictions, forecasting GDP growth at 3.7% in 2025, 3.2% in 2026, and 3.6% in 2027. Other institutions have varying forecasts: S and P Global expects annual growth of 2% for 2025-2026; Fitch Ratings estimates 3% in 2025 and 2.4% in 2026; and Moody’s anticipates annual growth of 2.5%.
The International Monetary Fund projects economic growth of 3.5% and 2.5% for 2025 and 2026, respectively. The European Bank for Reconstruction and Development foresees 3% in 2025 and 2.5% in 2026. Meanwhile, the Asian Development Bank anticipates growth rates of 3.4% and 3.3% over the next two years. The World Bank forecasts 2.6% in 2025 and 2.4% in 2026.