Economic growth has already reached 4.1% in 11 months, including a 6.4% increase in our non-oil sector, Prime Minister of Azerbaijan Ali Asadov said at the discussion of the draft law “On the State Budget of the Republic of Azerbaijan for 2025” in the Milli Majlis on the third reading, APA reports.
The Prime Minister said that our strategic foreign exchange reserves have exceeded 72 billion dollars: “Our direct foreign state debt accounts for only 7.3% of GDP. Maintaining balance in the foreign exchange market in the conditions of a surplus balance of payments, strengthening the nominal effective exchange rate of the manat and its reducing effect on import prices have conditioned the low level of inflation.”
Ali Asadov noted that in 2025, state budget revenues are forecast at approximately 38.4 billion manat, and expenditures are forecast at 41.4 billion manat: “The ratio of the state budget deficit to GDP is 2.4%. The budget project is the largest budget in the history of modern Azerbaijan. According to macroeconomic forecasts, a real growth rate of 3.5% (129.2 billion azn) of the Gross Domestic Product in 2025, and 4.9% in the non-oil sector, is predicted.
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