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Infrastructure projects in Azerbaijan's liberated areas to speed up non-oil industry's growth

Business Materials 5 February 2021 09:50
Infrastructure projects in Azerbaijan's liberated areas to speed up non-oil industry's growth

BAKU, Azerbaijan, Feb.5

By Fidan Babayeva - Trend:

An action plan has been developed for the implementation of social and infrastructure projects in Azerbaijan's liberated territories in 2021, Acting Director of the Research Institute of Economic Reforms under the Ministry of Economy Arzu Huseynova told Trend.

According to Huseynova, this will help accelerate the development of the country's non-oil industry.

"The development of the liberated territories of Azerbaijan will open up new jobs. In these directions, appropriate working groups have been set up, and an action plan developed,” she said. “Reconstruction works that will be carried out in the liberated regions, as well as the natural resources of these territories, will contribute to the development of the non-oil sector of Azerbaijan and the creation of new opportunities.”

As earlier reported, volume of GDP in the country’s non-oil sector amounted to 44.9 billion manat ($26.4 billion) for the entire period of 2020, which is by 0.9 percent more than in 2019.

Investments in fixed assets in the reporting year amounted to 17.03 billion manat ($10.01 billion), showing a decrease of 0.9 percent or 156.2 million manat ($91.9 million) compared to 2019.

By early January 2021, the average annual consumer price index reached 2.8 percent, an increase of 0.2 percentage points for the year.

The territories had been liberated from Armenian occupation as a result of 44-day war (from late Sept. through early Nov.2020).

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