Minister: Significant growth expected in Azerbaijan’s non-oil sector in 2020

Tue 12 Nov 2019 11:09 GMT | 15:09 Local Time

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In order to ensure stable and sustainable economic growth, Azerbaijan should use new development drivers, Azerbaijan’s Economy Minister Mikayil Jabbarov said during discussions of Azerbaijan’s state budget for 2020 in the parliament, Trend reports Nov. 12.

The minister noted the special importance of the non-oil industry in the implementation of export potential.

“Next year, along with the oil and gas industry, significant growth is also expected in the non-oil sector,” Jabbarov added.

The minister said that the reforms being carried out in Azerbaijan in connection with the “shadow” economy made it possible to finance social projects.

Jabbarov noted that in order to implement forecasts next year, it is important to continue improving the business environment, stop inspections in the field of entrepreneurship and take other steps.

“As a result of the work in the non-oil sector, growth is observed from year to year,” the minister added. “This trend is expected to continue next year as well.”

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