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Azerbaijan's GDP will increase by 3,4% next year

21 December 2020 14:28 (UTC +04:00)

Azerbaijani economy is forecasted to increase by 3,4% next year, APA reports citing the draft law "On the state budget of the Republic of Azerbaijan for 2021" submitted to the Milli Majlis, APA reports.

It is noted in the draft that the GDP production will make up 75,8 bln manat in 2021 in the country, and 53,4 bln manat of this will fall to the share non-oil GDP(3,1% increase), 22,4 billion manat (4% increase)) to the oil sector.
According to the expectation for this year, the GDP will fall to 71,8 bln manat decreasing the country’s economy by 4%. 50,5 bln manat of this amount will fall to the share of non-oil sector(2,9% decrease), 21,3 bln manat (5,8% decrease) to the oil sector.