Azerbaijan Prime Minister details national economic outlook during Cabinet meeting
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New informationRepeats or wire copies
What happened
Azerbaijan's Cabinet of Ministers discussed the draft state and consolidated budgets for 2027. Prime Minister Ali Asadov stated that the country's strategic foreign currency reserves currently stand at approximately $91 billion. He noted that direct external public debt was $4.5 billion as of September 1, representing 5.6% of projected GDP.
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Why it matters
As part of the outlook, Asadov reported that the foreign trade surplus exceeded $10 billion in the first eight months of 2026. Annual inflation was 5.7% during that same period, but is projected to fall to 5.3% next year. The average annual growth rate of the non-oil and gas sector is projected at 5.1%.
From trend.az
Who's involved
- AzerbaijanThe geopolitical state whose economic indicators were discussed.
- Cabinet of MinistersThe executive body responsible for implementing state policy and managing national affairs.
- Ali AsadovThe Prime Minister who presented the economic status and forecasts.
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The entities involved
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Azerbaijan
country in the Caucasus in Eastern Europe and Western Asia
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Cabinet of Ministers
Turkmen government
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Related events
- The International Monetary Fund projects Azerbaijan's GDP growth and inflation.
- Azerbaijan's central bank directed revenues into reserves to ensure economic stability.
- The Central Bank of Azerbaijan manages monetary policy while tracking inflation and trade surplus.
- The government in Azerbaijan uses the Prime Minister to sign executive decisions.