Azerbaijani finance minister talks growth in non-oil sector

Economy Materials 11 November 2021 13:25 (UTC +04:00)
Azerbaijani finance minister talks growth in non-oil sector

BAKU, Azerbaijan, Nov. 11

By Elchin Mehdiyev - Trend:

The growth in the Azerbaijani non-oil sector has reached 6.2 percent since early 2021, Azerbaijani Finance Minister Samir Sharifov said at a joint meeting of the Law Policy and State Building Committee, Defence, Security and Counter-Corruption Committee, Committee for Human Rights, Committee for International Relations and Inter-Parliamentary Connections of the Azerbaijani parliament and the Disciplinary Commission, Trend reports.

The minister called the execution of the state budget for 2021 successful.

"We have achieved high indicators,” Sharifov said. “Thus, 4.8 percent growth has been observed in the Azerbaijani economy while 6.2 percent growth in the non-oil sector since early 2021.”

Sharifov added that the growth of foreign trade turnover during the reporting period exceeded eight percent.

"In general, more than 1.5 billion manat ($882 million) is expected to be transferred from tax, customs and other spheres to the state budget by the end of the year," Sharifov said.

The minister said that it is envisaged to reduce the transfer of funds to the state budget from the State Oil Fund of Azerbaijan.