BAKU, Azerbaijan, July 22. Azerbaijan's average annual economic growth will make up three-four percent, and average non-oil GDP growth - five percent, Trend reports via "Strategy for socio-economic development of Azerbaijan for 2022-2026".
According to the strategy, sustainable and high growth will be ensured by diversifying the economy and increasing non-oil exports.
"Azerbaijan's economy will be integrated into the global value chain through the export of quality products and services. For this, a healthier and more competitive business environment will be created, and broad state support for the development of entrepreneurship will be provided. The efficiency of the work of the state-owned legal entities will also be increased, and their accountability will be strengthened," the document said.
Besides, according to the document, the share of the private sector in the economy will be increased to 88 percent.
According to the State Statistics Committee of Azerbaijan, the country’s GDP increased by 6.2 percent from January through June 2022 compared to the same period in 2021 - up to 63.3 billion manat ($37.2 billion).
The share of industry, in the structure of GDP, amounted to 53.3 percent, 7.7 percent fell on trade and repair of vehicles, 5.8 percent - on transport and storage, 3.8 percent - on construction, 4.7 percent - on agriculture, forestry and fish farming, 1.3 percent - in the sphere of information and communication, 1.3 percent - in the tourism sector.
A total of 14.5 percent fell on the share of other sectors of the economy.
