BAKU, Azerbaijan, July 16. The Central Bank of Azerbaijan (CBA) and the International Monetary Fund (IMF) discussed inflation and monetary policy priorities.
This was reflected in the statement by the Central Bank of Azerbaijan, following a meeting between the bank’s Director General, Vugar Ahmadov, and Anna Bordon, the head of the IMF’s mission to Azerbaijan, who is currently visiting Azerbaijan.
''During the meeting, the sides discussed the impact of developments in the global economy and financial markets on Azerbaijan’s economy, macroeconomic and financial stability, as well as economic trends and inflation forecasts,'' the CBA says.
The CBA notes that the parties also exchanged views on improving the monetary policy transmission mechanism and developing the interbank market, and discussed the main priorities of monetary policy and financial stability policy for the current year and the medium term.
According to the IMF’s May report, Azerbaijan’s economy is expected to grow by 2.2% in 2026, with growth stabilizing at 2.5% annually from 2027 through 2031.
In addition, the report emphasizes that the country’s oil sector, including oil and gas production and refining, will contract by 2% in 2026. According to the fund, the rate of decline will subsequently slow to 0.5% annually from 2027 to 2031.
At the same time, the IMF forecasts non-oil GDP growth of 3.7% in 2026 and 3.8% in 2027, followed by stabilization at 3.5% annually from 2028 to 2031.
The IMF also forecasts steady growth in Azerbaijan’s nominal GDP in the coming years. Nominal GDP is expected to reach $78.3 billion in 2026, increase to $83.06 billion in 2027, $88.1 billion in 2028, $93.7 billion in 2029, and $99.6 billion in 2030, reaching $105.9 billion in 2031.
