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CAERC reveals potential of non-oil GDP in Azerbaijan's liberated territories

Economy Materials 4 November 2022 12:12 (UTC +04:00)
CAERC reveals potential of non-oil GDP in Azerbaijan's liberated territories
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, November 4. Economic activity on Azerbaijan’s liberated territories will add three percent to Azerbaijan's GDP, and 5.1 percent - to non-oil GDP, Executive Director of the Center for Analysis of Economic Reforms and Communications of Azerbaijan (CAERC), Professor of Economics Vusal Gasimli said on November 4, Trend reports.

Gasimli made the remark during a scientific-practical conference dedicated to the anniversary of Azerbaijan's victory in second Karabakh war.

According to him, the agricultural sector will increase production in the country by 10.1 percent, and the mining sector - by 5.2 percent.

"We also expect growth in the processing industry by 4.3 percent, the tourism sector - by 5.5 percent, transport services - by 4.9 percent and in other areas - by about 1.4 percent," the executive director added.

The scientific-practical conference held at the Azerbaijan University of Architecture and Construction was attended by representatives of local universities, scientific organizations and specialized institutions.

Rector of the Azerbaijan University of Architecture and Construction, Professor Gulchohra Mammadova, head of the Azerbaijani Parliament’s Committee on Labor and Social Policy Musa Guliyev, and Deputy Chairman of the State Committee on Urban Planning and Architecture Ilgar Isbatov made presentations at the event.

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