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IMF: Azerbaijan has focused correctly on economic diversification

IMF Advisor and Head of the Article IV Mission to Azerbaijan, Anna Bordon

19 February 2026 18:59 (UTC +04:00)

“Azerbaijan has focused correctly on economic diversification,” IMF Advisor and Head of the Article IV Mission to Azerbaijan, Anna Bordon, said, APA-Economics reports.

She noted that economic growth in Azerbaijan slowed to 1.4% in 2025 following the high level recorded in 2024: “In this context, sustained fiscal consolidation and the diversification of the private sector beyond oil and gas production remain key policy priorities amid declining hydrocarbon reserves. Maintaining the fiscal consolidation course, continuing efforts to strengthen the monetary policy framework, and fully implementing the recommendations of the Financial Sector Assessment Program (FSAP) will reinforce medium-term domestic and external stability.

Azerbaijan has focused correctly on economic diversification. These efforts can be further strengthened by reducing informal employment, increasing labor productivity, deepening financial markets, improving the efficiency of state-owned enterprises, and reducing the role of the state in the economy.”

Rahim Tariverdiyev

IMF Anna Bordon Azerbaijan economy Economic diversification Fiscal consolidation Monetary policy FSAP Oil and gas sector Non-oil sector Financial sector Economic growth