Non-oil and gas sector reforms ensure Azerbaijan’s stable economic growth: Acting minister
Reforms and support measures carried out in Azerbaijan's non-oil and gas sector in recent years have ensured the country's stable economic growth, Acting Minister of Economy Mikayil Jabbarov said on Thursday.
He made the remarks during a forum themed "Tax system in the new period of development: Strategic goals for a sustainable economy", which was held in Baku.
Jabbarov noted that the Azerbaijani state demonstrates an adequate response to global concerns.
“The impact on nominal GDP was natural and expected, given our country's projected loss in oil and gas production and dropping global market prices. However, we were prepared for the process. In 2023, the non-oil and gas sector's growth rate was 3.7 percent,” he added.
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