Vusal Gasimli: Non-oil industry in Azerbaijan grew by 16.6%


July 23, Fineko/abc.az. "While the global industry is projected to grow by 3.5% this year, the growth of the non-oil industry in Azerbaijan is a welcome fact."

ABC.AZ reports that this was announced by Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms and Communications.

"The main driver of economic growth in Azerbaijan is the non-oil industry. In general, the growth in the non-oil sector was 5.1%. During this period, the exchange rate of the manat remained stable, and inflation, reaching 4.3%, was in the corridor determined by the Central Bank," Gasimli said.

He also noted that exports in the non-oil sector increased by 25.8% in the first 5 months, and State Budget revenues from the State Tax Service from the non-oil sector increased by 9.5% in the first 6 months.