BAKU, Azerbaijan, November 19. Azerbaijan holds significant potential for further accelerating economic growth, Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC) Vusal Gasimli said at the 9th International Banking Forum, Trend reports.
According to him, the presence of an output gap at the macro level shows that there are opportunities to accelerate economic growth in the country.
“This is a key indicator confirming that economic growth can expand more dynamically,” he explained.
In his view, the main direction that will increase economic growth is the investment line. Within this framework, work is underway on the socio-economic development strategy for 2027–2030, and the document envisages more than 10 billion manat ($5.9 billion) of capital investment.
Besides, within the framework of the Great Return Program, 13.2 billion manat ($7.76 billion) of investment is planned for 2027–2030.
Gasimli added that large projects planned for implementation in the coming years also exist. One of them is the Caspian Sea water treatment and desalination project, whose cost exceeds 400 million manat ($235.28 million). To implement the water and transport strategies, an investment package of 5–10 billion manat ($2.94–5.88 billion) is being discussed for 2027–2030.
The head of CAERC emphasized that overall, during 2020–2030, the state’s capital investment will amount to approximately four billion manat ($2.35 billion) annually.
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