Budget package: Azerbaijan’s GDP will grow by 3.4% on average in 2020-2022

Baku. 26 October. REPORT.AZ/ The Gross Domestic Product (GDP) in Azerbaijan will grow by 3.8% in 2020, Report informs referring to the budget package for 2019.

The GDP growth will make 3.6% in 2021 and 2.7% in 2022.

According to the forecasts of the government, the economic growth in the oil sector will be 3.8% in 2020, 4.6% in 2021 and 1.3% in 2022.

GDP growth in non-oil sector is expected to make up 3.8% in 2020, 3% in 2021 and 3.6% in 2022.

Thus, the average GDP growth for 2020-2022 is expected to be 3.4%.