ING Bank revised Azerbaijan’s 2025 GDP growth forecast to 3%, up from the December forecast of 2.6%. However, growth is projected to slow to 2.5% in 2026. Factors such as steady growth in real incomes and an increase in retail lending are expected to drive GDP growth in the medium term. The country’s official forecast for 2025 is 3.5%, while the World Bank and UN predict slightly lower growth figures.