Azerbaijan sees over three-fold economic growth in past 18 years

Azerbaijan’s economy has grown by 3.4 times over the past 18 years, the country’s deputy minister, Niyazi Safarov, said on Thursday.

He made the remarks while speaking at the opening of the Partners and Business Baku 2022 - a promotional exhibition of local companies, News.Az reports.

The deputy minister noted that the work carried out in the field of the business environment and entrepreneurship involvement has significantly contributed to economic growth in the country. 

According to Safarov, 99 percent of business entities in Azerbaijan are SMEs. “The number of individual entrepreneurs was 940. These figures are the leading indicators of development in the field of entrepreneurship.”


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