Forecasts for the growth of Azerbaijan's non-oil and gas sector GDP have been updated

In 2026, Azerbaijan's GDP will grow by 1.7% in real terms and reach 138.0 billion manats, which in nominal terms is 3.9 billion manats more than the forecast presented during the preparation of the draft state budget.

At the same time, non-oil GDP is expected to increase by 3.1% in real terms and amount to 100.0 billion manats, which in nominal terms is 1.7 billion manats less than the previous forecast.

This was reported by APA-Economics with reference to the Ministry of Finance.

It is reported that the relatively low expected growth rates in the construction and tourism sectors affected the forecasts for the non-oil and gas sector as a whole. Thus, the forecast for real GDP growth of the non-oil and gas sector for 2026 was lowered from 5.0% to 3.1%.

At the same time, taking into account the actual level of inflation for the elapsed period of the current year, world prices for commodities and food, their impact on import prices, as well as changes in regulated tariffs for goods and services and other factors, the forecast for average annual inflation for 2026 has been raised from 4.8% to 5.7%.