BAKU, Azerbaijan, December 30. The crystal ball of macroeconomic predictions suggests that Azerbaijan's GDP is set to rise by 3.5 percent in real terms come 2025, hitting the sweet spot of 129.2 billion manat ($76 billion), the Budget Handbook for Citizens of the Ministry of Finance of Azerbaijan said, Trend reports.
Meanwhile, it is noted that GDP of the non-oil and gas sector in real terms will increase by 4.9 percent and will reach 92.2 billion manat ($54.2 billion).
Moreover, the share of the non-oil and gas sector in the GDP structure is expected to amount to 71.3 percent. According to forecasts, the real GDP growth of the oil and gas sector will be 0.5 percent in 2025.
According to the forecasts of the Central Bank of Azerbaijan, the real economic growth rate in 2025 will be 3.3 percent, including 5.1 percent in the non-oil sector. ING forecasts growth in 2025 at 2.6 percent, the European Bank for Reconstruction and Development at 2.7 percent, and the Asian Development Bank at 2.6 percent.
To note, Azerbaijan produced gross domestic product for 113.2 billion manat ($66.5 billion) in the period from January through November of the current year, or 4.1 percent more than in the same period of last year.
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