Bank Of Baku

FinMinister Shahin Mustafayev: “GDP is expected to increase by 2 times in Azerbaijan within the next 10 years”

FinMinister Shahin Mustafayev: “GDP is expected to increase by 2 times in Azerbaijan within the next 10 years”
# 21 December 2011 08:22 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. Within the next 10 years, GDP is expected to rise 2 times on account of non-oil sector in Azerbaijan, Azerbaijan’s FinMinister Shahin Mustafayev said at the event, devoted to “The policy of modernization: the new economic and social challenges”.

To him, the share of non-oil sector in the structure of GDP is considered to reach 80% during this period. Speaking about the economic development of Azerbaijan, the minister said that during the past 7 years, GDP rose 2 times in Azerbaijan, as well as production of industrial goods – 2.8 times, state budget revenues – 9.3 times, the volume of investments directed to the main capital – 2.9 times, foreign trade turnover – 54 times, export – 8.2 times.
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