Azerbaijan's non-oil industry estimated to rise in coming years

BAKU, Azerbaijan, Nov. 10

By Khagan Isayev - Trend:

Azerbaijan's non-oil industry is forecasted to rise in 2022, Trend reports citing the bill of the budget.

According to the forecast, the average growth rate of the industry will make up 8.7 percent, and in the next three years, it will exceed eight percent.

This forecast was prepared given the implementation of the structural reforms to accelerate the industrialization of the country's economy and the development of the "supply economy".

Increase of the industrial production share in the total non-oil industrial production, creation of a number of mining and other enterprises in the territories liberated from Armenian occupation (in the 2020 second Karabakh war); the launch of the Alat free economic zone (FEZ); and strengthening of the role of Azerbaijan as a regional center of the 4th industrial revolution are also factors of the growth forecast.