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ING Group discloses Azerbaijan's economic growth forecast

12 September 2025 10:18 (UTC +04:00)

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 2025 from 2.5% down to 2.3%. The forecast for 2026 remains at 2.5%, while for 2027 it is set at 2%.

Additionally, the bank has increased its growth forecast for the fourth quarter of this year from 4% to 4.5%. The quarterly growth forecast for 2026 remains unchanged. Thus, the forecast for the first quarter of next year is 3.5%, for the second quarter 3%, for the third quarter 2.5%, and for the fourth quarter 1%.

Note that Azerbaijan’s Ministry of Economy forecasts GDP growth at 3.7% in 2025, 3.2% in 2026, and 3.6% in 2027. S&P Global expects annual growth of 2% for 2025–2026, Fitch Ratings forecasts 3% in 2025 and 2.4% in 2026, while Moody's anticipates annual growth of 2.5%.

The International Monetary Fund expects economic growth of 3.5% and 2.5% in 2025 and 2026, respectively. The European Bank for Reconstruction and Development forecasts 3% in 2025 and 2.5% in 2026. The Asian Development Bank projects 3.4% and 3.3% over the next two years, while the World Bank expects growth of 2.6% in 2025 and 2.4% in 2026.