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The Republic of Azerbaijan: Staff Report for the 2026 Article IV Consultation

International Monetary Fund

No 2026/112, IMF Staff Country Reports from International Monetary Fund

Abstract: Economic momentum waned in 2025, coming off elevated growth in 2024. Inflation rose, driven by food prices, but remains within the target band. The war in the Middle East has heightened uncertainty, even as it potentially augments Azerbaijan's buffers. Addressing any inflationary pressures as well as—given falling hydrocarbon reserves—sustained fiscal consolidation and economic diversification are the main challenges.

Pages: 78
Date: 2026-05-27
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