MP discloses healthy economic growth rate for Azerbaijan

Azerbaijani MP Ali Masimli has called the rate of economic growth in Azerbaijan relatively low compared to global indicators, Report informs.

Masimli was speaking at today's meeting of the parliament during the discussion of the bill “On Azerbaijan’s state budget for 2024.”

The parliamentarian noted that a healthy rate of economic growth for Azerbaijan is 5%.

“This can be achieved by deepening reforms in the country, taking serious steps. In addition, it is necessary to increase the share of innovative products, which currently amounts to 0.5%. More than 90% of industrial production accounts for Baku and Absheron,” he said.

According to Masimli, it is important to create more promising and innovative enterprises in the Azerbaijani districts.

“Today, the rate of economic growth in Azerbaijan is relatively low compared to the global average. I believe that Azerbaijan has sufficient potential to move from a slow trajectory of economic growth to an accelerated one,” he added.