BAKU, Azerbaijan, September 11. Investments in the Azerbaijani economy grew from January through August 2026.
Trend's calculations based on the State Statistics Committee's data show that over 12.6 billion manat ($7.4 billion) was invested in the country's fixed capital during the reporting period. The figure rose by 10% year-on-year.
During the period, 8.4 billion manat ($4.9 billion) was invested in Azerbaijan's non-oil and gas sector, up 1.4% from the same period last year.
The Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, said at a July 31 press conference on the parameters of the interest rate corridor that the CBA had revised its economic growth forecasts amid an increase in lending activity.
"We forecast economic growth of 0.5% in 2026, while GDP growth in the non-oil and gas sector is expected to reach 2.4%. In 2027, we expect economic growth of 2.6%, while growth in the non-oil and gas sector is projected at 3.9%," the chairman said.
Kazimov noted that the central bank had revised its economic growth expectations compared with its previous forecasts. The previous forecast had projected GDP growth of 1.1% in 2026 and 3.2% growth in the non-oil and gas sector. For 2027, the corresponding forecasts had been 3.2% and 4.7%.
The CBA chief stressed that despite global economic developments, there was no need for the central bank to change its current monetary policy course.
"The Central Bank has action plans for various scenarios within its monetary policy framework and is able to respond promptly to changing economic conditions. There is currently no basis for switching to a ‘Plan B,’ and therefore such a scenario is not being discussed," he noted.
According to him, current macroeconomic indicators provide sufficient grounds for continuing the existing policy.
"The macroeconomic environment and current regulatory indicators provide grounds for continuing the current policy course. Therefore, we are continuing to implement the strategy we have chosen," he said.
The official added that all central banks prepare alternative action plans to address potential risks.
"One of the key conditions for successful monetary policy is making the right decision in a timely manner in response to changing circumstances. We believe that the monetary policy we are currently implementing will adequately address potential challenges the economy may face in the medium and long term," he emphasized.
