Azerbaijan develops socio-economic development strategy for 2022-2026

Economy Materials 23 November 2021 19:26 (UTC +04:00)
Azerbaijan develops socio-economic development strategy for 2022-2026

BAKU, Azerbaijan, Nov. 23

By Khumay Aghajanova - Trend:

The socio-economic development strategy for 2022-2026 has been developed in Azerbaijan and is at the stage of approval, Azerbaijani Deputy Minister of Economy Sevinj Hasanova said during the discussion of the bill "On the state budget of the Republic of Azerbaijan for 2022" (second reading) at the meeting of the Azerbaijani parliament, Trend reports.

"The public-private partnership must be expanded, able-bodied people in the districts must be attracted to the economic activity and a new innovative model of economic growth must be formed within the sustainable economic growth strategy," deputy minister said.

Hasanova said that by implementing the draft new strategy, measures will be taken to maintain the current exchange rate and macroeconomic stability in the country.

The deputy minister also stressed that according to the forecasts of the International Monetary Fund, the economic growth rate in the world will exceed three percent in 2022-2026.

"As a result of the implementation of our strategy, GDP growth is projected at about four percent while in the non-oil sector – five percent," the deputy minister added. We forecast growth in tourism sector by more than 48 percent in 2022."