"Today, the economic growth in Azerbaijan has transformed into a long lasting stable trend. During the period of 2021-2024, non-oil sector rose annually by 6,7% in average while its share in national economy has reached 68%. Non-oil export of last six months, has almost doubled. It explicitly shows an increasing competitiveness of our country," President of the Republic of Azerbaijan, Ilham Aliyev, said in his address to the participants of the First Azerbaijan International Investment Forum, APA reports.
The head of state noted that all these achievements are supported by creating modern production infrastructure in the country: "Currently, we have 9 industrial parks and 4 industrial sites. These clusters register 171 enterprises with 98 of them starting already production outputs. Over 6,9 billion manats are invested into industrial zones with almost 11 thousand jobs created.
The private sector share in the economy has reached 81,4% resulting from the application of innovative ideas, public-private partnership mechanisms and implemented reforms. The continuous development of economy has boosted the welfare of population and broadened financial capabilities of the country. The State budget revenues of 2025 have increased by 2,4 times compared to 2017 as the strategic foreign currency reserves have gone up by 1,9 times while the public foreign debt continued its downtrend by 6,5% in relation to GDP turning into one of the lowest indicators on world scale."
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