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IMF unveils forecast on Azerbaijan's non-oil sector

22.04.2021,15:10


April 22, Fineko/abc.az. According to the updated forecasts of the International Monetary Fund (IMF), this year Azerbaijan’s budget revenues on the non-oil sector will make up 25.3% of non-oil GDP.

ABC.AZ reports that given the IMF's forecast on the growth of the country's non-oil GDP by 3.5% this year, an increase in the actual volume of budget revenues from the non-oil sector could be expected in 2021 as well.

The share of budget revenues from the non-oil sector in GDP is expected to decline to 24.1% in 2022. The IMF forecasts a 2.5% increase in non-oil GDP in 2022.

In 2020, Azerbaijan’s budget revenues from the non-oil sector grew by 0.6% year-on-year and reached AZN 10.68 (21% of non-oil GDP).