BAKU, Azerbaijan, September 16. The average
annual export price of oil in Azerbaijan is assumed at $65 per
barrel for 2027–2030 under the baseline scenario.
According to forecasts presented by Azerbaijan’s Ministry of
Economy in August this year, by the end of 2027, GDP is expected to
reach 141 billion manat ($82.9 billion), including 109.1 billion
manat ($64.2 billion) in non-oil and gas GDP.
This is reflected in the Statement on the Initial Indicators of
the State and Consolidated Budgets for 2027 released by
Azerbaijan’s Ministry of Finance.
GDP is projected to reach 169.1 billion manat ($99.5 billion) in
2030, while non-oil and gas GDP is expected to reach 138.6 billion
manat ($81.5 billion).
“Over the medium term, real GDP growth is projected to average
3.3% annually, while non-oil and gas GDP growth is projected at
4.4%. The share of the non-oil and gas sector in GDP is expected to
reach 82% by 2030,” the statement said.
Will be updated
