Azerbaijan announces priorities of new economic model

Baku, Azerbaijan, May 3
By Azad Hasanli - Trend:

The Azerbaijani government plans to change an economic growth model within ten years.

Azerbaijani Finance Minister Samir Sharifov made this statement at the workshop "Rethinking Growth Potential and Growth Models" held in Baku as part of the 48th meeting of the ADB Board of Governors May 3.

"It is obvious that this growth will be inclusive," he said. "It will be based on the development of the social sector, which has always been a priority for Azerbaijan."

"The growth of the country's economy will be based on the diversification of the economy and the reduction of dependence on oil and gas sector," he said. "This does not mean that we will close all oil and gas projects. We will continue the development of this sector and develop the important projects in this field."

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