BAKU, Azerbaijan, Nov. 10
By Sadraddin Aghjayev - Trend:
Azerbaijan's real GDP will grow in 2022 according to forecasts of the Ministry of Economy, Trend reports citing the bill of the state budget for next year.
This indicator will amount to 86.6 billion manat ($50.9 billion), up by 3.9 percent.
In accordance with the bill, it’s also expected that non-oil GDP will rise by 4.9 percent next year, and oil - by 1.8 percent.
According to macroeconomic forecasts, prepared taking into account the average annual oil price of $50 per barrel, Azerbaijan's GDP this year will grow by 5.1 percent, non-oil GDP - by six percent, and oil GDP - by 3.2 percent.
The diversification of the economy in the coming years will remain one of the main strategic priorities of Azerbaijan. In 2022, the share of the non-oil sector in GDP is projected to make up 69.7 percent, and the oil sector - 30.3 percent.
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