The Asian Development Bank (ADB) has kept its economic growth forecast for Azerbaijan unchanged, APA-Economics reports.
This was stated in the Bank's July outlook. Accordingly, the ADB forecasts Azerbaijan's economy to grow by 2% this year and by 1.8% in 2027. This is unchanged from the Bank's April forecast.
The ADB noted that its economic growth forecasts for Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan remain unchanged for both 2026 and 2027.
The economic growth forecast for the Caucasus, Central and West Asia region, however, has been lowered to 3.8% for 2026 and to 4.2% for 2027.
The downward revision for 2026 is linked to worsening expectations in Armenia amid Russia's recent trade restrictions, weaker economic growth in Türkiye in the first quarter, as well as rising costs in Turkmenistan due to alternative trade routes bypassing Iran.
For 2027, Armenia's economic growth forecast has been lowered to 5.5% due to the long-term effects of the conflict in the Middle East and the negative impact of trade restrictions on the country's economic outlook.
The forecast for Türkiye has also been revised downward due to rising fuel and fertilizer prices, as well as a weak external economic environment that has negatively affected industry and exports.
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