Fitch Solutions (FS) forecasts Azerbaijan’s annual inflation to stay below 5% over the next decade.
The country's average inflation over the past ten years was 5.5%. While high food prices and the Russia-Ukraine war continue to exert pressure, inflation is expected to ease gradually.
FS projects inflation at 4% in 2025, rising to 4.7% by 2027, then slowing to 2.7% in 2029 and 0.1% by 2034. The exchange rate is expected to remain stable, supported by steady oil and gas revenues.
The Central Bank of Azerbaijan (CBA) targets inflation at 4±2% and relies on exchange rate control for price stability. Unlike the sharp devaluation in 2015, CBA is now in a stronger position, though high dollarization (48.4% of deposits in foreign currency) limits monetary policy effectiveness.
A four-year plan aims for inflation targeting by 2026, potentially increasing exchange rate flexibility.
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The thirteenth session of the World Urban Forum will open in Baku on Sunday, bringing together government representatives, city leaders, urban planners, international organisations, businesses and civil society to discuss the future of sustainable urban development.
Matiul Haq Khalis, Director General of Afghanistan’s National Environmental Protection Agency, has travelled to Baku to attend the 13th World Urban Forum, where climate change and safer cities will be discussed.
The 13th edition of the World Urban Forum, due to begin in Baku on Sunday (17 May), is an ideal opportunity for Azerbaijan to show the world what successful post-conflict urban development looks like, a representative for the conference has said.
Iran’s Foreign Minister Abbas Araghchi said Tehran has “no trust” in the United States and will only consider negotiations if Washington shows seriousness. His remarks came as talks on Iran’s nuclear programme continued, with Trump and Xi also opposing Iran acquiring nuclear weapons.
The U.S.-Israeli war with Iran loomed over U.S. President Donald Trump's visit to China, as signs emerged that the conflict is causing a shift in alliances across the Middle East.
Chinese President Xi Jinping and U.S. President Donald Trump are holding high-level talks in Beijing on Thursday, following a ceremonial welcome, with both leaders highlighting cooperation despite ongoing tensions.
British Prime Minister Keir Starmer was fighting for his political survival on Thursday (14 May) after Health Secretary Wes Streeting resigned, saying he had “lost confidence” in Starmer’s leadership.
The second semi-final of the 70th Eurovision Song Contest 2026 takes place tonight in a rain-soaked Vienna, with the final 10 places in Saturday’s grand final still up for grabs.
Uzbekistan has launched a nationwide environmental initiative titled ‘Day Without Cars’, which will take place twice a month as part of efforts to improve air quality and reduce vehicle emissions.
The thirteenth session of the World Urban Forum will open in Baku on Sunday, bringing together government representatives, city leaders, urban planners, international organisations, businesses and civil society to discuss the future of sustainable urban development.
Matiul Haq Khalis, Director General of Afghanistan’s National Environmental Protection Agency, has travelled to Baku to attend the 13th World Urban Forum, where climate change and safer cities will be discussed.
Children laughed, applauded and watched wide-eyed as animated characters lit up the screen at the opening of the ninth Animafilm International Animation Festival in Baku, where filmmakers and audiences from around the world gathered to celebrate the growing influence of animated cinema.
Leaders of the Organisation of Turkic States (OTS) gathered in the Kazakh city of Turkistan for an informal summit focused on strengthening cooperation in trade, transport, energy and regional connectivity as the bloc seeks to expand its geopolitical and economic influence across Eurasia.
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