Azerbaijan's non-oil sector growth forecast at 4.4% for 2027-2030

The average annual growth of Azerbaijan's economy for 2027-2030 is forecast at 3.3%, including 4.4% in the non-oil and gas sector, Deputy Minister of Economy Azer Bayramov said at a joint meeting of the Milli Majlis committees on legal policy and state-building, defense, security and anti-corruption, human rights, and regional issues during the discussion of the draft law "On the State Budget for 2027", Report informs.

According to him, the share of the non-oil and gas sector in GDP is expected to reach 82% by 2030: "It is important to increase the role of the private sector in ensuring economic growth and employment. In this regard, support for the development of the private sector remained in the center of attention this year as well. The development of entrepreneurship was supported by such tools as public-private partnerships, an investment promotion mechanism, concessional loans, industrial zones, and tax and customs benefits."