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Despite global recession, economic growth continues in Azerbaijan - PM

Economy Materials 17 March 2023 12:35 (UTC +04:00)
Despite global recession, economic growth continues in Azerbaijan - PM
Elchin Mehdiyev
Elchin Mehdiyev
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BAKU, Azerbaijan, March 17. Despite the global recession, economic growth continued in Azerbaijan, Prime Minister Ali Asadov said during the discussion in the Azerbaijani Parliament of the report on the activities of the Cabinet of Ministers of Azerbaijan in 2022, Trend reports.

The PM noted that Azerbaijan reached record numbers in GDP in 2022. He noted that last year the country's GDP was 133.8 billion manat ($78.7 billion), which is 4.6 percent more than a year earlier. In the non-oil sector, GDP increased by 9.1 percent, and in agriculture, by 3.6 percent. Meanwhile, the GDP per capita increased by 4.1 percent and amounted to 13,300 manat ($7,823).

"Last year, the country's foreign exchange reserves increased by $5.3 billion, to $58.5 billion. Currently, foreign exchange reserves amount to $62 billion.

"Over the first 2 months of this year, the reserves increased by $4 billion," the PM added.

The Azerbaijani Parliament is holding a meeting for the discussion of the report on the activities of the Cabinet of Ministers in 2022. The meeting is attended by PM Ali Asadov and members of the government.

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