IMF: Azerbaijan's economy to grow by 2.5% per year in medium term

Azerbaijan's GDP growth is projected to average 2.5% per year in the medium term, Jihad Azour, director of the International Monetary Fund's Middle East and Central Asia Department, said at a press conference in response to Report's question.

"In 2025, growth will slow compared to 2024 and reach 3%, as public investment in the hydrocarbon sector gradually declines. In the medium term, average economic growth is projected to be 2.5% per year. Inflation remains under control and within the targets set by the Central Bank," Azour added.

He noted that the reduction in the trade surplus will impact the country's foreign economic position.

"The risks, I would say, remain relatively balanced. One risk factor is a possible fall in oil and gas prices. Another is any flare-ups of tensions that could impact the overall economic situation. Furthermore, the fragmentation of activity in the non-hydrocarbon sector also poses a problem that could negatively impact the economy," the IMF representative said.