The average annual growth ratio of the Azerbaijani economy is forecasted to be 3.7% during the following 4 years, APA-Economics reports citing statement of the Ministry of Finance on initial indicators of state and consolidated budgets of Azerbaijan for 2021.
According to the forecast, GDP production will increase by 3.4% in 2021, 4.8% in 2022, 3.7% in 2023, while 3.1% in 2024 in Azerbaijan.
GDP of the non-oil sector is also expected. Thus, GDP production will increase by 3.5% in 2021, 4.1%in 2022, 3.5% in 2023, while 3.6% in 2024 in the mentioned sector. As it is clear, the GDP of the non-oil sector is expected to increase by 3.7% on average in 2021-2024.