17:01 - 13.11.2023

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November 13, Fineko/abc.az. The pace of economic growth in Azerbaijan is comparatively low compared to global indicators.

ABC.AZ reports that Milli Majlis MP Ali Masimli said this at today's Milli Majlis meeting during the discussion of the Draft Law on State Budget 2024.

The MP noted that the healthy economic growth rate for Azerbaijan is 5%.

"This can be achieved by deepening reforms in the country, taking serious steps. In addition, it is necessary to increase the share of innovative products in production, which currently stands at 0.5%. More than 90% of industrial production accounted for Baku and Absheron," he said.

According to Masimli, it is important to create more promising and innovative enterprises in the regions of the country.

"Today, the pace of economic growth in Azerbaijan is relatively low compared with the global average. I believe Azerbaijan has sufficient potential to move from a slow trajectory of economic growth to an accelerated one,” he said.