Day: September 23, 2026

TEHRAN, Sep. 23 (MNA) – Foreign Minister Abbas Araghchi met his Azerbaijani counterpart Jeyhun Bayramov on the sidelines of the 81st UN General Assembly, stressing Iran’s determination to defend its sovereignty and national interests.

TEHRAN, Sep. 23 (MNA) – French Foreign Minister Jean-Noel Barrot told his Iranian counterpart Abbas Araghchi that a political solution is the only possible option for ending the current war.

Azerbaijan’s state oil company, SOCAR, has moved into Africa’s offshore energy scene by picking up a stake in an oil and gas field off the coast of Côte d’Ivoire. The company has finished acquiring a 10% ownership interest in the Baleine oil and gas field development project in the Republic of Côte d’Ivoire, after securing all the required approvals and meeting the necessary conditions.

Azerbaijani Foreign Minister Jeyhun Bayramov participated in a reception hosted by US President Donald Trump, the Foreign Ministry of Azerbaijan said in a post on X, Report informs.

It was noted that the reception comes at a time of growing Azerbaijan-US partnership, following the August 8 Washington Summit and the signing of the Strategic Partnership Charter.

“We look forward to further strengthening cooperation, including in connectivity, energy, trade and investment,” the ministry said.

The Asian Development Bank (ADB) expects Azerbaijan’s GDP to grow by 1.6% in 2026 and 1.8% in 2027.

According to Report, citing ADB’s forecasts, the projection for the current year has been lowered by 0.4 percentage points compared to the April forecast, while the outlook for next year remains unchanged.

This means that the average annual economic growth in 2026–2027 will be 1.7%.

“The growth forecast for 2026 has been reduced as growth is expected to remain weak until the end of the year, but the forecast for 2027 remains unchanged against the backdrop of economic recovery expectations,” the bank explains.

Analysts’ reports show that overall economic growth forecasts for the Caucasus, Central, and West Asia have been reduced by 0.1 percentage points to 3.7% in 2026, and to 4.1% in 2027.

According to the State Statistical Committee of Azerbaijan, the country’s economy grew by 1.4% in 2025.

The Ministry of Economy estimates GDP growth at 1.7% this year and 2.7% next year. The Central Bank of Azerbaijan expects GDP to grow by 0.5% in 2026 and 2.6% in 2027.

The Netherlands’ largest banking group, ING Group, forecasts Azerbaijan’s economic growth at 1.9% in 2026, 3% in 2027, and 2.3% in 2028.

According to UN calculations, Azerbaijan’s economy will grow by 2.7% in 2026 and 2.6% in 2027.

Fitch Solutions expects Azerbaijan’s real GDP growth to reach 2.5% in 2026.