BAKU, Azerbaijan, May 26. Azerbaijan's GDP growth in 2021 exceeded forecast level, Minister of Finance Samir Sharifov said at a meeting of Azerbaijan’s parliamentary committee on economic policy, industry and entrepreneurship during the discussion of the bill on “Implementation of the 2021 state budget of Azerbaijan”, Trend reports.
“The last two years were rather difficult and we had to change many of our forecasts in 2020 due to the coronavirus pandemic,” Sharifov noted.
"There was a gap between supply and demand, the first signs of the problem, now called the food crisis, began to form. Most of the predicted risk factors occurred in 2021," the minister said.
Meanwhile, the minister noted that nominal GDP of Azerbaijan increased in 2021.
Real GDP growth was projected at 3.4 percent, but amounted to 5.6 percent in 2021, added Sharifov.