BAKU, Azerbaijan, Mar.9
By Fidan Babayeva - Trend:
Azerbaijan’s construction sector, indicators of which were declining over the past 3 years, will recover in 2021, Trend reports referring to the UK’s Global Data consulting company.
According to Global Data, at the same time, the growth in the sector will make up 9.1 percent.
The company's analysts predicted the sector’s steady in Azerbaijan at about 4.4 percent over the next four years.
"The construction sector in the country suffered from the fall in oil prices, the consequences of the COVID-19 pandemic, and the 44-day war for liberating its territories from Armenian occupation at the end of last year. The sector's indicators decreased by 15.2 percent in 2020, by 6.1 percent in 2019, and by 8.8 percent in 2018," the company said.
Global Data believes that construction in Azerbaijan’s Karabakh region contributes to the recovery of the sector as a whole, predicting growth is due to investments of up to $1.3 billion in the region.
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