Deputy Minister: Over Jan-Oct, AZN 11.8 bn allocated from all sources of financing to fixed assets

15:34 - 7.12.2022


December 7, Fineko/abc.az. In the context of ongoing global geopolitical tensions, uncertainty and the risks of recession in the global economy have increased even more over the past period. 

ABC.AZ reports that despite all this, over the past period of this year the Azerbaijani economy has maintained high growth dynamics. Thus, for Jan-Oct 2022 GDP grew by 5.2% and GDP in the nonoil and gas sector by 9.7% against Jan-Oct 2021. Deputy Minister of Economy Samad Bashirli said this at the presentation of report "Azerbaijan on the way to green development".
He noted that for the first 10 months, AZN 11.8 bn were allocated from all sources of financing for the development of the country's economic and social spheres, or 8.2% more versus Jan-Oct 2021.

"As a result of measures to diversify the economy and successfully realize the export potential, foreign trade turnover for Jan-Oct 2022 amounted to $46.3 bn, including positive trade balance of $23.1 bn. Non-oil and gas exports increased by 16.2% up to $2.4 bn," Bashirli said.

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