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The Republic of Azerbaijan: Staff Report for the 2026 Article IV Consultation

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  • International Monetary Fund

Abstract

Economic momentum waned in 2025, coming off elevated growth in 2024. Inflation rose, driven by food prices, but remains within the target band. The war in the Middle East has heightened uncertainty, even as it potentially augments Azerbaijan's buffers. Addressing any inflationary pressures as well as—given falling hydrocarbon reserves—sustained fiscal consolidation and economic diversification are the main challenges.

Suggested Citation

  • International Monetary Fund, 2026. "The Republic of Azerbaijan: Staff Report for the 2026 Article IV Consultation," IMF Staff Country Reports 2026/112, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:2026/112
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