Baku: ING Group, the largest financial group in the Netherlands, has updated its macroeconomic forecasts for Azerbaijan, APA-Economics reports. The updated forecast outlines economic growth projections of 1.5% in 2025 and 2.8% in 2026.

According to Azeri-Press News Agency, ING has made revisions to its earlier forecasts, decreasing the growth projection for the current year by 0.8 percentage points while increasing the forecast for 2026 by 0.3 percentage points. The bank’s estimates indicate that nominal GDP will reach 79.6 billion US dollars by the end of 2025 and 81.3 billion US dollars in 2026.

Additionally, ING’s forecasts suggest that the average annual inflation rate in Azerbaijan will be 5.1% in 2025, rising to 5.8% in 2026. Compared to previous forecasts, the inflation expectations for the current year have been reduced by 0.4 percentage points, whereas the forecast for the following year has been increased by 0.5 percentage points.