The conflict in the Middle East has affected energy and logistics, but Azerbaijan remains stable The chief of staff of the Ministry of Economy of Azerbaijan, Alvin Jamalov, speaking at the meeting of the Milli Majlis Committee for Economic Policy, Industry and Entrepreneurship on the subject of the draft state budget for 2027, said that the conflict in the Middle East has a negative impact on energy and transportation routes, and also caused fluctuations in the prices of raw materials and products the food According to the IMF's assessment in October, global economic growth will slow from 3.5% last year to 3.1% this year, by 0.4 percentage points. Out of this decline, it stems from the conflict in the Middle East. In the medium term, growth is expected to be around 3.2%; A return to the pre-pandemic 3.7% is not expected. This means fierce competition for investments and markets. Despite external challenges, Azerbaijan's economy remains stable. Based on the results of the strategy for the years 2022-2026, including the expected results of the current year, the average annual GDP growth will be 2.7%, in the non-oil and gas sector - 5.2%, exceeding the targets.

The conflict in the Middle East has affected energy and logistics, but Azerbaijan remains stable The chief of staff of the Ministry of Economy of Azerbaijan, Alvin Jamalov, speaking at the meeting of the Milli Majlis Committee for Economic Policy, Industry and Entrepreneurship on the subject of the draft state budget for 2027, said that the conflict in the Middle East has a negative impact on energy and transportation routes, and also caused fluctuations in the prices of raw materials and products the food According to the IMF's assessment in October, global economic growth will slow from 3.5% last year to 3.1% this year, by 0.4 percentage points. Out of this decline, it stems from the conflict in the Middle East. In the medium term, growth is expected to be around 3.2%; A return to the pre-pandemic 3.7% is not expected. This means fierce competition for investments and markets. Despite external challenges, Azerbaijan's economy remains stable. Based on the results of the strategy for the years 2022-2026, including the expected results of the current year, the average annual GDP growth will be 2.7%, in the non-oil and gas sector - 5.2%, exceeding the targets.