The World Bank forecasts Azerbaijan’s economic growth will slow over the coming years, as adapting to the energy transition will be challenging for the country. Oil output from ageing fields is expected to continue declining, and natural gas output from the Shah Deniz field is set to stabilize after peaking this year. Growth is forecasted to be 2.7% this year, and then 2.4%, 2.3%, and 2.2%, in the coming years. Further, ING expects inflation in the country to be 5.2% YoY this year, and 4.9% in 2026, slightly higher than previous expectations.