11:23 - 30.09.2024

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September 30, Fineko/abc.az. According to macroeconomic indicators, in 2011-2023, average annual economic growth rate in the country was 1.5%, including 4.4% in the non-oil/gas sector.

ABC.AZ reports that Azerbaijani Economy Minister Mikayil Jabbarov made this statenment at the opening of the Baku Climate Action Week.

"Over the last 8 months of this year, the non-oil/gas sector has experienced 7% economic growth," the minister said.

He added that that the mining sector remains important, but as a result of large-scale socio-economic reforms, great positive changes have taken place in the socio-economic landscape of the country.

"In the context of a reduction in production in the oil & gas sector, positive dynamics of economic growth, including in the non-oil/gas sector, remained, and economic growth continued in the post-pandemic years. In this process, there is an expansion of budget expenditures and support for entrepreneurship, stimulation of investments and exports, development of the non-oil industry," Jabbarov said.