BAKU, Azerbaijan, December 5. The Dutch ING Group has revised its 2024-2025 inflation estimates for Azerbaijan, Trend reports.
The group analysts forecast average annual inflation in Azerbaijan in 2024 at 2.1 percent, down from the previous estimate of 2.3 percent
For 2025, they predict inflation will amount to 4.1 percent, a slight decrease from the prior forecast of 4.6 percent, while for 2026, the rate is projected to remain steady at 4.5 percent.
The International Monetary Fund forecasts average annual inflation in Azerbaijan at 2.1 percent in 2024, the World Bank at 4.2 percent, the UN at 5.9 percent, and in 2025 at 3.9 percent. The Asian Development Bank forecasts 5.5 percent in 2024 and 6.5 percent in 2025. The European Bank for Reconstruction and Development forecasts that average annual inflation in Azerbaijan will slow down in 2024 to 3.5 percent from 8.8 percent in 2023.
However, the Central Bank of Azerbaijan expects inflation in the country to be 4±2 percent in 2024.
The Azerbaijani government predicts that annual inflation in the country will reach 4.6 percent in 2025.
ING, the Internationale Nederlanden Groep, was formed in 1991 and is an international banking and financial services firm based in Amsterdam. Its core industries include retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance.