BAKU, Azerbaijan, Oct. 31
By Matanat Nasibova – Trend:
The gross domestic product (GDP) in Azerbaijan grew by 2.5 percent while in the non-oil sector by 3.6 percent from January through September 2019, Trend reports referring to the statistics data on macroeconomic indicators for the reporting period.
At the same time, agriculture increased by more than 7 percent while non-oil industry by more than 15 percent.
Along with industrial sphere, consistent work is being carried out to establish big enterprises in the agricultural sector.
Some 51 agricultural parks are planned to be created in the districts. Some 22 agricultural parks are operating. Eleven more agricultural parks are expected to begin to operate till late 2019.
Some 2.4 billion manat ($1.4 billion) will be additionally invested in the Azerbaijani economy to implement these projects, which will also contribute to the creation of more than 4,000 new job places as a result of accelerating the socio-economic development.
The funds in the amount of more than 17 billion manat ($10 billion) are planned to be allocated for the implementation of the State Program on Economic Development of the Regions of Azerbaijan in 2013-2019. Some 4.6 billion manat ($2.7 billion) of this amount will be allocated through the private sector as investments in the projects that are already being implemented or are being prepared.
At the same time, about 13 billion manat ($7.6 billion) is expected to be invested through the state.
At the same time, real economic growth of the country’s GDP is forecasted at 3 percent in 2020, which is 83.3 billion manat ($49 billion), including non-oil GDP at 3.8 percent, which will reach 54.6 billion manat ($32.1 billion).
According to the forecast of economists, GDP is expected to reach 97.7 billion manat ($57.5 billion) till 2023.
The share of the non-oil sector of GDP will increase up to 66.8 percent for a short period, the analysts said.
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