According to the updated macroeconomic forecasts, in 2023, the real expression of GDP under the base scenario will increase by 1,8 percent and reach 111,6 billion manats. This is 5,6 billion manats more than the previous forecast, Azerbaijan’s Ministry of Finance stated, APA-Economics reports.
According to the information, it is proposed that non-oil/gas GDP will increase by 4,9 percent and reach 77,7 billion manats in real expression (4,4 billion manats more than the previous forecast).
It was stated that the high real increase tempo observed in the non-oil/gas sector in January-June of the current year will continue in the next months of the year as well. The forecast regarding the GDP’s real increase tempo over the non-oil/gas sector stated in the 2023 state budget envelope has been raised to 4,9 percent from 4,5 percent.
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