Azerbaijan announces forecasts on economic growth in 2020

​Azerbaijan announces forecasts on economic growth in 2020

The Gross Domestic Product (GDP) in Azerbaijan is expected to reach AZN 82.7 billion in 2020, up 2.4% from 2019, Report informs referring to Finance Ministry.

Non-oil GDP is forecasted to go up 3.3% to AZN 54.2 billion.

AZN 4.8 billion or 5.8% of GDP is expected to be formed in agriculture, forestry and fishery, AZN 31.5 billion or 38% in industry, AZN 6.5 billion or 7.8% in construction, AZN 32.7 billion or 39.5% in services, AZN 7.3 billion or 8.8% in net taxes on products and import. Non-oil sector of the industry is expected to grow by 8.5%, while oil sector – by 0.9%. 

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