Azerbaijan is at a critical juncture in its development journey towards universal health coverage. Reforms of the health financing and organization of the health system have aimed to increase efficiency and progress towards equal access to health services, financial protection, and quality. Key...

Economic growth decelerated to 1.5 percent in the first half of 2025, driven by contraction in the hydrocarbon sector and marked slowdown in non-hydrocarbon sector output. Hydrocarbon sector output fell 3.2 percent (you) as daily crude oil production declined 3.1 percent (yoyo) while natural gas...

Context: Azerbaijan's vocational education and training (VET) system has undergone a significant reform, culminating in the enactment of the Law on Vocational Education in 2018. Despite not being a member of the European Union (EU) and lacking formal political, economic, or cultural alignment...

Transition to renewable energy leads to assumed economic diversification; however, the institutional risks for hydrocarbon-dependent economies remain high. This paper identifies the conditions under which transitioning economies enter a novel dependency during the renewable transition. Our...

Background: This study revisits whether oil revenue windfalls translate into higher socio-economic welfare in oil-exporting economies and explains why oil price booms often fail to generate sustained gains in real GDP per capita. Methods: Using annual data for ten oil-exporting countries over...

The balance between supply and demand influences inflation and understanding whether one factor predominates the other has significant implications for economic policy. Distinguishing the contributions of supply and demand factors to inflation offers insight into the primary drivers of inflation...

A technical assistance mission assisted the State Statistical Committee of Azerbaijan (SSC) in developing the system of quarterly national accounts. It did so by reviewing the compilation of quarterly GDP by production and providing recommendations for further improvement. The mission also...

This paper focuses on the Republic of Azerbaijan's Financial Sector Assessment Program as part of Financial System Stability Assessment. Azerbaijan's economy has recovered from two downturns prompted by the collapse of global oil prices in 2015 and coronavirus disease 2019 pandemic in 2020. An...

The 2025 Article IV Consultation discusses that following a slowdown in 2023, growth accelerated, and inflation picked up in Azerbaijan. The decline in oil and gas prices reduced the 2024 external surplus, but fiscal consolidation resumed. Looking ahead, growth is projected to moderate and...

The empirical findings of this study suggest a significant long-term relationship between the probability of mortality due to non-communicable diseases (NCDs) among individuals aged 30-70 in Azerbaijan and key economic and social indicators, including Gross Domestic Product per Capita, Waged...

This report presents an analysis of the Central Bank of the Republic of Azerbaijan's (CBA) communication framework and offers recommendations for enhancement. The technical assistance mission, led by the IMF Monetary and Capital Markets Department, aimed to modernize the CBA's communication...

The three South Caucasus economies - Armenia, Azerbaijan and Georgia - have performed relatively well since the COVID-19 pandemic, benefiting from certain spillovers of Russia's war against Ukraine. The oil importers Armenia and Georgia achieved double-digit GDP growth in 2022 - 12.6% and 11.0%,...

The report offers a concise overview of the higher education system in Azerbaijan,addressing key areas to provide a comprehensive understanding of the system'scharacteristics. These include institutions of higher education, student population,governance of higher education, and the funding of...

This Country Partnership Framework (CPF) presents the planned engagement of the World Bank Group (WBG) in Azerbaijan over the next five years (FY25-29). The CPF is guided by the government's strategy for socio-economic development for 2022-26 (SEDS) and the WBG's most recent strategic analysis -...

This report identifies the unique technological challenges and opportunities faced by various Azerbaijani communities when using digital tools and services, particularly in rural areas. The findings will support the Government of Azerbaijan in its design of the interventions necessary to create...

The study provides an overview of levels of institutional and fiscal decentralisation, and of the legal bases for the various governance structures in Armenia and Azerbaijan. The distribution of competencies at each level of governance is presented in the following policy areas of mandatory...

Based on existing academic literature, green banking can primarily evolve along three directions: green product development, green corporate social responsibility, and green internal processes This study qualitatively evaluates the commitment of seven top-performing banks in Azerbaijan to green...

Ankara’s role in Central Asia is often assessed through the "Great Game" lens, in which Turkey is supposed to challenge the influence of Russia and China. On the one hand, such a perspective attests to the growing role of Turkey in the region. On the other hand, this view ignores the agency of...

This technical assistance (TA) mission consisted of: (i) a remote segment which took place via Zoom during March 11–17, 2025; and (ii) an in-person segment, which took place in Baku during April 28 – May 2, 2025. The main objectives of the mission were to: (i) provide an outline of Government...

A technical assistance mission assisted the State Statistical Committee of Azerbaijan (SSC) in developing the system of quarterly national accounts. It did so by reviewing the compilation of quarterly GDP by production and providing recommendations for further improvement. The mission also...

Das Pariser Klimaabkommen sieht vor, die globale Erderwärmung auf unter 2êC gegenüber dem vorindustriellen Niveau zu begrenzen. Eine Herausforderung, deren Erfolg von der internationalen Kooperation der Mitgliedsstaaten abhängt und noch in weiter Ferne liegt. In diesem Policy Brief zeigen...

Das Pariser Klimaabkommen sieht vor, die globale Erderwärmung auf unter 2êC gegenüber dem vorindustriellen Niveau zu begrenzen. Eine Herausforderung, deren Erfolg von der internationalen Kooperation der Mitgliedsstaaten abhängt und noch in weiter Ferne liegt. In diesem Policy Brief zeigen...

International foreign exchange reserves are widely acknowledged as a global medium of exchange that possesses a readily available characteristic. Official public assets, which are foreign assets kept and organized by the monetary authorities of countries, serve as a complement to foreign...

Across Europe and around the globe, regions and cities are delivering the green transition on the ground. At the same time, they are increasingly affected by the climate crisis. At COP29, the European Committee of the Regions delegation will advocate for the inclusion of local and regional...

Russia’s invasion of Ukraine has accelerated global dynamics that profoundly impact the post-Soviet South. Relations with Russia are still strong, but the former subalterns are raising their voices. The empowerment is most visible in their foreign relations, but also tends to strengthen...

Das Pariser Klimaabkommen sieht vor, die globale Erderwärmung auf unter 2°C gegenüber dem vorindustriellen Niveau zu begrenzen. Eine Herausforderung, deren Erfolg von der internationalen Kooperation der Mitgliedsstaaten abhängt und noch in weiter Ferne liegt. In diesem Policy Brief zeigen...

The dynamics of Austria's economic relations with the EU Eastern Partnership (EaP) countries - Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine - and with Russia have deviated from those of the EU in several important ways. During the decade preceding the war in Ukraine, Austrian trade...

Transition economies, on the one hand, grapple with a communist legacy; on the other hand, they seek the optimal institutionalization for knowledge generation, dissemination, and commercialization to compete globally. However, the incumbent knowledge of certain aspects of their innovation...

Das Pariser Klimaabkommen sieht vor, die globale Erderwärmung auf unter 2°C gegenüber dem vorindustriellen Niveau zu begrenzen. Eine Herausforderung, deren Erfolg von der internationalen Kooperation der Mitgliedsstaaten abhängt und noch in weiter Ferne liegt. In diesem Policy Brief zeigen...

The Country Opinion Survey in Azerbaijan assists the World Bank Group (WBG) in better understanding how stakeholders in Azerbaijan perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the private...

The mission assisted the staff of the Central Bank of the Republic of Azerbaijan (CBAR) in compiling financial soundness indicators (FSIs) in line with the IMF's 2019 FSIs Compilation Guide. Specifically, the mission assisted the CBAR to compile 14 core and 9 additional monthly FSIs for deposit...

Growth is moderating following a strong post-pandemic rebound, and inflation is easing. The near-term challenge is to resume fiscal consolidation following a temporary easing, and to ensure that inflation-which has recently returned to the target band-does not reignite amid external risks and...