Baku: The Economist Intelligence Unit (EIU), the research and analysis division of The Economist Group, has upgraded its economic growth forecast for Azerbaijan, APA-Economics reports. The EIU projects that Azerbaijan's economy will experience consistent growth from 2025 to 2029.

According to Azeri-Press News Agency, The Economist has revised its real GDP growth projections for Azerbaijan, increasing the forecast for 2025 from 2.9% to 3.4% and for 2026 from 2.9% to 3.1%. The growth forecasts for 2027 and 2028 remain unchanged at 3.1% and 3.2%, respectively, while a growth rate of 3.5% is anticipated for 2029.

Nominal GDP is expected to reach 145.4 billion manat in 2025 and 154.6 billion manat in 2026. Projections indicate an increase to 174.6 billion manat in 2027, 192.0 billion manat in 2028, and 212.6 billion manat in 2029.

According to the State Statistical Committee, Azerbaijan's economic growth for the first eight months of this year stood at 1%. The draft budget for 2026 outlines medium-term economic growth at 3.5%, with expectations of 3% for the current year, 2.9% for 2026, 3.3% for 2027, 3.1% for 2028, and 4.8% for 2029.