13:56 - 27.05.2024

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May 27, Fineko/abc.az. The average annual growth rate in the agricultural sector over the past two years has been 3.2%, which is below the target growth rate in the Strategy.

ABC.AZ informs that this is stated in the report "The process of preparing country’s socio-economic forecast indicators and forecasts for 2023 and their implementation", prepared by the Ministry of Economy.

According to the forecasts presented in 2022 in the field of agriculture, real growth rate of agriculture for 2023 was projected at 4.1%. Then, appropriate adjustments were made to the forecasts, taking into account the updated forecast data and actual indicators provided by the Ministry of Agriculture for 6 months of last year, and in the updated forecasts for 2023, the growth rate was reduced to 3.5%. The actual growth rate for the industry in 2023 was 3%. The growth rates in the area are lower than predicted due to the fact that the actual data for some crop products are relatively lower than forecast.