15:57 - 2.11.2023

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November 2, Fineko/abc.az. The average annual inflation in Azerbaijan is projected at 9.5% this year.

ABC.AZ reports that Economy Minister Mikayil Jabbarov stated about this at a meeting of the Milli Majlis Committee on Economic Policy, Industry & Entrepreneurship.

He added that inflation is projected to be in the range of 5.3% in 2024 and 4-5% in 2025-2027 in accordance with the target range.

According to the presented baseline forecasts, the share of the oil and gas sector in the country's GDP in 2027 will exceed 78%.

Over Jan-Sept 2023, inflation in Azerbaijan made up 10.9% (versus Jan-Sept 2022), including 12.4% for foods, beverages and tobacco products, 10.1% for non-food products, and 9.6% for paid services to the population.