Baku: Moody's international rating agency forecasts that Azerbaijan's real gross domestic product (GDP) growth will reach 2.5-3% in 2026-2027, APA-Economics reports. This projection comes as part of Moody's report on the outlook for Azerbaijan's banking system.

According to Azeri-Press News Agency, this growth figure is an improvement compared to the expected 1.5% growth in 2025 and the 4.1% growth recorded in 2024. The agency's assessment indicates that the acceleration of economic growth will mainly be driven by the stable development of the non-oil sector, which plays a significant role in the country's economy. A large share of banking operations is attributed to this sector, highlighting its importance in the broader economic landscape.

The report notes that the tendency toward growth in the non-oil sector will support credit growth, preserve asset quality in the banking sector, and maintain profitability. These factors are crucial for the sustained economic development of Azerbaijan, as they contribute to a healthy and robust financial system.