Azerbaijan , Baku /corr Trend I, Khalilova / The National Bank of Azerbaijan (NBA) has predicted that the Gross Domestic Product (GDP) will double by the year 2010. Elman Rustamov, Chairman of the NBA Managing Board, stated to a meeting of members of the Caspian Integration and Business Circle , the volume of the per capita GDP will reach $5,000.
In 2007 the GDP will increase 35%, which is primarily explained by the growth rate of the oil sector (65%), as well as the non-oil sector by 12%.
"The implementation of the oil strategy ensured the diversification of economy, which contributed to the stable rise in the non-oil sector over the past 3 years by 11%, due to oil revenue being directed at the development of this sector," Rustamov said.
In this respect Rustamov considers that the forecast will be achieved which will involve the creation of 600,000 new jobs over 5 years.