BAKU, Azerbaijan, Dec. 26
By Nargiz Ismayilova - Trend:
Economic growth is expected in Azerbaijan in 2020, Executive Director of the Center for Analysis of Economic Reforms and Communication Vusal Gasimli said at a press conference in the New Azerbaijan Party (YAP), Trend reports.
“Economic growth for 2020 will amount to 3 percent - for the first time in six years, for 2021 - 3.7 percent, for 2022 - 3.1 percent and for 2023 - 3.2 percent,” Gasimli noted.
“Economic growth in Azerbaijan’s trading partner countries will average 1.3 percent in 2019, and 2.5 percent (non-oil export weight) in 2020, the increase in oil prices envisaged in macroeconomic forecasts, along with the ongoing reforms, will positively affect Azerbaijan’s economy,” the executive director added.
“For the first time in five years, Azerbaijan’s GDP growth exceeded 2 percent in 2019, while non-oil GDP grew by 3.5 percent and exceeded the pace of economic growth worldwide,” Gasimli said.
“The growth of the main drivers of economy in 11 months of 2019 amounted to 13.9 percent in the non-oil industry, 11.3 percent in crop production, 15.9 percent in information and communication services and 11.1 percent in tourism,” the executive director noted.