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ING improves Azerbaijan's economic growth forecast

08 August 2025 09:57 (UTC +04:00)

The Netherlands' largest financial group, “ING Group,” has announced its economic growth forecast for Azerbaijan, APA-Economics reports.

ING has increased its GDP growth forecast for 2025 from 2% to 2.5%. The forecast for 2026 is set at 2.5%, and for 2027 at 2%.

In addition, the bank has raised its growth forecast for the fourth quarter of this year from 3% to 4%. The quarterly growth forecast for 2026 has remained unchanged. Accordingly, 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 the Ministry of Economy of Azerbaijan 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 forecasts economic growth of 3.5% and 2.5% for 2025 and 2026, respectively; the European Bank for Reconstruction and Development expects 3% in 2025 and 2.5% in 2026; the Asian Development Bank projects 3.4% and 3.3% over the next two years; and the World Bank expects 2.6% in 2025 and 2.4% in 2026.