18:02 - 20.06.2023

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June 20, Fineko/abc.az. This year, under an optimistic scenario, we forecast economic growth of the non-oil sector of Azerbaijan at about 5%, Adviser to Economy Minister Hagani Abdullayev said.

He said that if the global economic situation and the opportunities associated with it, including the transport and transit opportunities of the region, the opportunities associated with the Middle Corridor, are used faster, then the pace of economic growth of Azerbaijan may be higher.

Abdullayev also commented on the forecast of international credit rating agency Standard & Poor's on 0 percent economic growth of Azerbaijan this year. He said that the Ministry of Economy has a more optimistic approach. This approach is also based on real estimates: "We have real estimates on our hands. We cooperate with all field institutions. We update annual forecasts of economic growth almost monthly. Actions related to the strategy were also identified. There are actions and responsibility behind the forecasts."

As for the forecasts concerning the overall economic growth, the minister's adviser said that certain clarifications on oil and gas production are needed for this.