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Deputy Minister: Azerbaijan's budget increased 50 times in last 30 years

22 October 2025 12:23 (UTC +04:00)

Azerbaijan's state budget has increased 50 times in the last 30 years, said Deputy Minister of Economy Sahib Alakbarov today at the scientific-practical conference on "Economic foundations of state sovereignty and economic independence" dedicated to the "Year of Constitution and Sovereignty" organized by the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship, APA-Economics reports.

The Deputy Minister said that in 2004-2024, the Azerbaijani economy grew 3.8 times, and the non-oil sector grew 3.7 times: "While in 2003 the poverty rate was 44.7% and the unemployment rate was 9.2%, as a result of the implemented measures, both poverty and unemployment rates decreased to 5.3% in 2024."

Shukran Mammadov

Azerbaijan economy state budget Sahib Alakbarov Ministry of Economy economic growth non-oil sector poverty reduction unemployment Constitution and Sovereignty Year