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Government of Azerbaijan Announced Expectations for GDP Growth in 2007

Business Materials 24 February 2007 11:41 (UTC +04:00)

Azerbaijan , Baku / corr. Trend I.Khalilova / The Minister of Economic Development of Azerbaijan, Heydar Babayev, said that the Government of Azerbaijan expects to achieve the amount of the gross domestic products (GDP) at $3,000 per capita till the mid of 2007.

"It is a good indicator," he said.

According to him, last year unprecedented growth rate of the GDP was observed in Azerbaijan and the country could hold the leadership for this indicator in the world. As a result of 2006, the growth of the GDP was 35%.

"The glad fact is that we cleaned out the amount of the production of the oil and gas sector from the GDP and achieved the growth of non-oil sector in GDP at the level of 12%. The GDP reached $2,500 per capita," Minister said. According to him, the main fact is that the share of the private sector in the GDP is 81%.

He considers that certain structural changes have happened in GDP and it a ground for the future development.

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