The international rating agency S&P Global Ratings has improved its economic growth forecast for Azerbaijan for next year, APA-Economics reports citing the rating agency.
Thus, while S&P again set the real GDP growth of Azerbaijan at 2% in 2025, it raised its expectations for 2026 from 1.5% to 2%.
The rating agency noted that in 2024, actual GDP growth in the Caucasus and Central Asia region exceeded the agency's forecasts. Although expectations for GDP growth in 2025 are high, it will be lower than in 2024.
“Although oil producers Kazakhstan and Azerbaijan have benefited from the recent dynamics of oil prices, they are facing a decline in oil production. The positive aspect is that economic growth in non-oil sectors in these countries exceeds growth in the oil and gas sector. The slowdown in economic growth in Armenia and Georgia is due to a decrease in migrant and capital flows from Russia," the agency underlined in a statement.
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