IMF Staff Country Reports

Republic of Azerbaijan: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Azerbaijan

April 22, 2025

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

International Monetary Fund. Middle East and Central Asia Dept. "Republic of Azerbaijan: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Azerbaijan", IMF Staff Country Reports 2025, 098 (2025), accessed May 17, 2025, https://doi.org/10.5089/9798229008556.002

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Summary

The 2025 Article IV Consultation discusses that following a slowdown in 2023, growth accelerated, and inflation picked up in Azerbaijan. The decline in oil and gas prices reduced the 2024 external surplus, but fiscal consolidation resumed. Looking ahead, growth is projected to moderate and inflation to remain within the Central Bank of the Republic of Azerbaijan target. Risks to the outlook remain broadly balanced but external uncertainty is high. Reduced hydrocarbon prices as a result of higher supply or lower demand could adversely affect growth, external position, and fiscal revenues. The government has outlined export diversification plans that leverages Azerbaijan’s geographic advantages. Reforms to enhance the role of the private sector should continue, including improving the performance of major state-owned enterprises and increasing the participation of the private sector, implementing the anti-corruption strategy, and deepening capital markets.

Subject: Fiscal consolidation, Fiscal policy, Fiscal rules, Inflation, Prices, Revenue administration

Keywords: Approval date expiration date amount, Currency of Azerbaijan, Europe, Fiscal consolidation, Fiscal rules, Global, IMF article, IMF Office in Baku, IMF's holding, Inflation

Publication Details

You May Also Be Interested In...

Pakistan: First Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of Performance Criteria and Request for an Arrangement Under the Resilience and Sustainable Facility -Press Release; Staff Report; and Statement by the Executive Director for Pakistan

May 17, 2025

Strengthening Fiscal Data Governance in Solomon Islands

May 16, 2025

Enhancing Effectiveness of Solomon Islands' Fiscal Framework

May 16, 2025

Nowcasting Real GDP in Samoa

May 16, 2025