According to the updated forecasts for July 2024, GDP growth in Azerbaijan is expected to be between 3.5% and 4%, while non-oil GDP is projected to grow between 5.5% and 6%, Taleh Kazimov, the Chairman of the Central Bank of Azerbaijan, stated this during a press conference on the parameters of the interest rate corridor, Paralel.Az-Economics reports.

He stated that the July forecasts remain unchanged compared to the forecasts made in April. For 2025, economic growth is expected to be in the range of 2% to 2.5%, with growth in the non-oil sector projected to be between 4% and 5%.