The mining and metallurgical sector's contribution to gross domestic product (GDP) is expected to increase from AZN 700 million to AZN 1.8 billion by 2030, while its annual export potential is projected to rise from AZN 1.3 billion to AZN 3.4 billion based on average world prices in 2025, Minister of Economy Mikayil Jabbarov said at a meeting dedicated to the State Program on the development of the mining and metallurgical industry, attended by President Ilham Aliyev, APA reports.
According to the minister, a total investment of AZN 5.3 billion is envisaged during 2027–2030 to achieve these results:
"The total investment requirement under the program for 2027–2030 is estimated at AZN 5.3 billion. Of this amount, AZN 1.1 billion will be financed from the state budget, AZN 2.2 billion from the funds of state-owned enterprises, including loans, that is, debt capital, and AZN 2 billion from private funds, including debt capital. Thus, approximately 80% of the total investment will be attracted from non-budgetary sources. In this regard, mobilizing the investment capacities of state-owned enterprises and the private sector is the main task before us. As a result, the new capacities to be created are expected to increase the sector's added value and annual export potential by 2.6 times over the next four years."
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