Current conditions force the economy of Azerbaijan to face many issues, among them being the creation of favorable conditions for its sustainable development. Insights accumulated from foreign nations show that the development and growth of the national economy leads to an improvement in the well-being and quality of life of the population in many respects. The development of the national economy is impossible without structural changes which are necessary for the reduction and, eventually, the elimination of the overwhelming dependence on the reliance of the global raw materials markets. Therefore, one of the main issues that is a focal point of many economists is the influence of such factors on the country’s economic growth. Modernization of the Azerbaijan’s economy, including the restructuring of the country’s real sector through innovative approaches, requires an active development approach with the participation of the financial sector. There are many factors that affect the growth rate of the economy of a country, and in our opinion, the primary ones revolve around the financial resources of enterprises that are allocated for investment purposes. Currently, the acquisition of additional financial resources by enterprises in the real sector caused by their expansion of activities is mainly formed through bank loans. Therefore, it is considered advisable to analyze the level of influence of bank lending on the growth rates of the Azerbaijani economy.